In the first half of the year, we observe an increase in broker satisfaction in all lending sectors – Smart Money People – The Intermediary

Smart Money People has published its H1 2024 Mortgage Benchmark Report, covering mortgage brokers’ views on mortgage lenders for the first half of 2024.

The biannual independent survey found the overall average lender rating was 83.7%, an increase of 0.8% from the second half of 2023 and the highest on record.

All sectors, including banks, building societies, life insurance and specialists, saw performance growth; Building societies again achieved the highest score with a score of 85.7%, closely followed by lifetime lenders with a score of 85.5%.

The 12th edition of the Mortgage Loan Ranking has already taken place, which analyzes the condition of the mortgage industry based on brokers’ opinions.

The latest edition included reviews from over 950 mortgage brokers and included 4,490 reviews on 111 lenders.

The average Net Promoter Score (NPS) for all lenders improved by 6.5 points compared to the result in the second half of 2023 and amounted to +38.7, which is again the highest result of the 12 studies conducted to date.

Scores for lenders included in the report ranged from -83.6 to +84.4.

The best bank was Atom Bank, and the best lender of savings and building societies was Princeity Building Society.

The best annuity provider was Pure Retirement, the best buy-to-let lender was InterBay and Pepper Money was named the best specialist lender.

Jacqueline Dewey (pictured), CEO of Smart Money People, said: “The increased confidence in the mortgage sector that we have experienced so far in 2024 is clearly reflected in our latest mortgage lender benchmark and shows that lenders have positively met the increased demand and volumes across the board.

“The significant increase in the overall NPS score from the second half of 2023 is also a key indicator that overall broker satisfaction with lenders is good.

“The life insurance sector deserves special attention as its NPS increased by 18.7 compared to the last report.”