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Brokers tip best bank for 2015

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Australian Broker | 25 Jun 2015, 05:29 AM Agree 0
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
  • Broker | 25 Jun 2015, 10:05 AM Agree 0
    I find this result really difficult to believe, did they buy this award?!
  • Macarthur Broker | 25 Jun 2015, 12:20 PM Agree 0
    I must be missing something. Segmentation going from strength to strength? All segmentation does drive good brokers to other lenders. Westpac would not have a clue what business they are missing out on because they do not support brokers from the outset. They are only interested in their existing high volume brokers. Personally I have have found them impossible to work with so they will never receive a measurable share of my business. Unfortunately NAB are not much better.
  • MDB | 25 Jun 2015, 01:37 PM Agree 0
    The business is clearly coming from the non-resident sector - apparently they do that reasonably well. Other than that, why would you use them?! The first bank to cut comms back in the day, and still a measly flat 15bps trail with no ramping.
    Commission is certainly not my reason for selecting a lender. The clients needs are foremost. However, there are plenty of lenders who offer better pricing and service than WBC, so even if it's splitting hairs I would recommend going the other way.
  • Michael Kent | 25 Jun 2015, 02:57 PM Agree 0
    Awards like this just get shared around. What lender hasn't won some kind of Lender of the Year award? Product of the Year and so on.

    It really means nothing.

    I have been broking for 12 years and NEVER written a Westpac loan. Their accreditation process is too long-winded and I can't be bothered.
  • Broker | 26 Jun 2015, 01:44 PM Agree 0
    These "awards" are really just industry hot air and spin, as it appears that the reality that Brokers experience dealing with such lenders is seen as an irrelevant component to "winning" such prestigious awards!!
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