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It’s that time of year when brokers can praise lenders for their products or demand better service.
The Adviser has launched the magazine's annual survey of major lenders, giving brokers the chance to grade them on their products, service, turnaround times, training and support.
Phoenix Mortgage Management’s number one major lender by volume over the past year has been ANZ, said chief executive Allan Willoughby.
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Marios Rokka from Loan Market said he had also favoured ANZ, followed by the Commonwealth Bank.
These two banks, he said, provided the best service. “They bend over backwards to help you when things go astray. It’s like having them in your corner helping you along when things go bad,” he told The Adviser.
Mr Rokka, who said he writes about $50 million in loans per year, said he had found little difference between the lenders’ products.
“They’re all slightly different in terms of rates, but everyone has got the same thing,” he said.
Finance Made Easy owner Tony Bice said he also writes about $50 million per year and told The Adviser that the Commonwealth Bank was the major that got the most of his business, although he made a point of spreading his loans around.
Westpac, he said, offered the best service among the major lenders but added that these were generally inferior to the non-majors.
Mr Bice also said that pro-pack loans had offered some good discounts recently.
“The thing that’s standing out the most at the moment is the size of the discounts you’re getting on the larger-sized deals,” he said.
These are the opinions of some of Australia's leading brokers. Add your voice to theirs by taking part in The Adviser's annual Third Party Banking Report - Major Lenders.
