Brokers’ satisfaction levels with lenders are at its highest level since 2020, according to data from Smart Money People.
The financial services review site has released its H1 2025 Mortgage Lender Benchmark which shows overall satisfaction with mortgage lenders has increased by 0.05 points to 4.22 out of 5.
This is the highest level recorded since 2020 and comprises feedback from 1,111 brokers at 600 firms who gave insights on 134 lenders.
The latest update Mortgage Lender Benchmark also included the Broker Experience Index for the first time, which combines multiple satisfaction and service metrics.
This debuted with a score of 70.6.
The building society sector has the top-rated Broker Experience Index of 71.5, although mainstream lenders follow closely at 71.4.
Halifax was named the best mainstream lender by brokers, while Principality Building Society was named the best building society lender, the latter retaining their status from H2 2024 benchmark.
A change to the top spot though was recorded for the best BTL specialist, as BM Solutions came out as top lender in this category.
Meanwhile, Allica Bank were the top bridging / commercial lender, and LendInvest were recognised as the best digital-first lender.
“It’s extremely encouraging to see that overall satisfaction across the industry remains high, which is undoubtedly great news for brokers and borrowers alike,” said Jake Sandford, head of data and analytics at Smart Money People.
“To reflect the importance of the wider broker journey across multiple touch points when working with lenders, our new Broker Experience Index provides revealing insights on the individual elements of the journey — and shows which lenders are managing to join everything up to provide the best broker experience.”
