MPA's Brokers on Banks survey has revealed Australia's top bank as chosen by mortgage brokers, with one major bank making a surprise move up the leader boards.
MPA's Brokers on Banks survey has been released, with Commonwealth Bank taking the top spot for the second year in a row.
The survey saw brokers rank lenders across 10 categories, including BDM support, information provision, interest rates, internet platform, overall service, product range, satisfaction with credit policy, transparency of commission structure, turnaround times and diversification opportunities.
Commonwealth Bank took the top spot in six of the 10 categories, and was scored as the best overall lender by brokers.
"It's really pleasing to have this kind of support from the broker community and to know that our broker partners appreciate what we can do for them and what we can achieve together for customers," CBA executive general manager of third party and mobile banking Kathy Cummings said.
While CBA scored its second consecutive win, NAB showed strongly, moving into second place from fourth overall in 2011. The bank saw its ranking and overall score increase by more than any other lender, and general manager of broker distribution John Flavell said the result vindicated the bank's strategy.
"To us, it clearly demonstrates that spending time with brokers to understand what’s important to them and where we could improve and importantly, spending time, energy and effort acting on this information is the right approach, and where we will continue to place our efforts," he said.
To see the full rankings, check out MPA issue 12.7, on desks now.