Overall lender satisfaction remains historically high, broker survey reveals
Atom bank has received the highest satisfaction rating from brokers in Smart Money People’s Mortgage Lender Benchmark for H2 2024.
The digital bank achieved an overall satisfaction score of 94.2% in a survey gathering broker feedback on 116 UK mortgage lenders. The overall average lender rating stood at 83.4%, slightly down by 0.3% from H1 2024 but tied for the second highest result in the survey’s history.
Other standout performers included Principality Building Society, named best building society lender, and Pure Retirement, which was recognised as the top lifetime mortgage provider.
Pepper Money was rated best specialist lender, while Landbay overtook competitors to claim the top spot in the buy-to-let category. Lloyds Banking Group was named the best lender in the £4 billion-plus segment.
The 13th edition of the Mortgage Lender Benchmark collected 4,755 reviews and remains the UK’s largest broker feedback survey. It provides insights into broker satisfaction levels and lenders’ Net Promoter Scores (NPS). The average NPS across all lenders fell slightly to +35.9, down 2.8 points compared to H1 2024.
“Despite a very busy end to 2024 with rates gradually reducing, it’s encouraging to see that overall levels of satisfaction with lenders across all sectors has remained at historically high levels since we started our report over six years ago,” commented Jacqueline Dewey (pictured), chief executive of Smart Money People.
“Special mentions to Atom bank, Pepper Money, Principality and Pure Retirement for their consistent service delivery across the whole year. Such high levels of satisfaction take significant investments in both resources and technology. So, we should applaud not only their efforts, but that of the whole industry in maintaining service and satisfaction during such a difficult and uncertain period."
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