Tell a friendBrokers satisfy borrowers more than direct mortgage lenders
Mortgage brokers have again beaten mortgage lenders according to an independent customer satisfaction survey. The survey carried out by mortgage lender BankWest and mortgage association the MFAA found mortgage brokers were given a customer satisfaction rating of 7.5 compared to 6.9 for mortgage lenders where the customer arranged their loan directly according to MFAA CEO, Phil Naylor.
Mr Naylor stated that the survey is conducted every six months commenting "Brokers consistently get between 7.5 and 7.9 out of 10 and direct lending I've never seen above 7, it's always been in the sixes. Our research tells us that this is quite significant difference."
The results of the BankWest/MFAA survey are backed up by research by independent consulting and research group, Fujitsu Consulting which found that 80% of people that used a mortgage broker are happy to to refer them to someone else, compared to just 20% who are happy to refer on a mortgage lender. "That's pretty compelling," said Fujitsu's Martin North, "Consumers tell you they get better objective advice from brokers that from going straight to the lenders".
The survey revealed the top three reasons gave for dealing with a mortgage broker are:
- Time saving.
- Range of product/lenders.
- Mortgage brokers experience.
BankWest is a bank lender available directly and through leading mortgage brokers. MFAA is an industry lobby group acting for all segments of the mortgage industry including mortgage brokers, originators, mortgage managers and mortgage lenders.
