Smart Money People has opened its doors for intermediary feedback on its mortgage lender benchmark in H2 2023.
The bi-annual independent research study, which is run by the financial services review site, is aimed at highlighting which lenders are currently providing the best service levels to mortgage brokers and their customers.
This will be the eleventh edition of the mortgage lender benchmark, which also focuses on helping lenders understand what brokers really think about them and how they compare to other lenders.
From today until 15 October, mortgage brokers can share their feedback about the last five lenders they’ve done business with, whether they are banks, building societies, specialist or lifetime lenders. The research will also ask brokers to rate the technology they use, including criteria and sourcing systems.
Brokers are also asked about their lenders’ criteria, speed, eligibility, communication and relationship managers, as well as what they like about each lender and what they could improve on.
In the most recent mortgage lender benchmark, released in June, over 770 brokers gave Smart Money People feedback on 113 lenders. The review site collated league table data, as well as detailed analysis on 53 individual lenders.
In this report, overall satisfaction with lenders was up by 4% on the H2 2022 report, to 83.4%, the highest average rating recorded by Smart Money People’s mortgage lender benchmark.
Chief executive officer at Smart Money People, Jacqueline Dewey, said: “The mortgage market has been in considerable change for over 12 months now and so intermediary advice remains as important as ever. Brokers need to know that lenders will deliver on their promises, which is why our Benchmark research examines which lenders are currently providing the best service levels to mortgage brokers and their customers.
“It’ll be extremely interesting to see if brokers remain as satisfied as they were with lenders six months ago, especially after the introduction of the Consumer Duty regime at the end of July.”
The results of this survey are expected to be released in November.
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