The Mortgage Lender Benchmark has returned to find out which lenders are providing the best service to mortgage brokers and their customers.
From today until the 10 November 2019, mortgage brokers will be able to share their feedback about the last five lenders they’ve done business with.
Brokers will receive a £10 Amazon voucher in return for sharing their thoughts.
Nate Harwood, co-founder at Smart Money People, said: “With most lenders heavily reliant on brokers to deliver mortgage volume, the Mortgage Lender Benchmark sets out to provide actionable insight that helps lenders better understand what they need to do to keep brokers happy.
“This research can also help lenders enhance their intermediary proposition and gain an advantage in what is an increasingly competitive marketplace.”
The Mortgage Lender Benchmark is a bi-annual independent research study designed to help lenders learn what brokers really think about them.
Run by financial services review and insight business Smart Money People, brokers are asked about lenders’ criteria, speed, eligibility, communication and relationship managers.
They are also asked to share what they like about each lender and what could be better.
The previous report, released in June, showed wide gaps in the performance of lenders.
While brokers recognised significant improvements at HSBC, specifically around satisfaction with BDMs, rates and speed to completion, they were less likely to recommend specialist lenders.