Home loan customers satisfied with banks

7 December 2018
| By Anastasia Santoreneos |
image
image
expand image

Home loan customers who obtained their loan in person at a bank branch have the highest satisfaction rate (78.7 per cent), according to Roy Morgan’s latest research.

Around 77.7 per cent of customers were satisfied with phoning bankers to get a mortgage, and mobile bankers followed with 75.3 per cent of customers satisfied.

But, according to the survey, only 74.3 per cent of customers were satisfied with mortgage brokers, with the figure weighed down by big four bank customers using brokers.

ANZ mortgage customers using a broker had only 63.4 per cent satisfaction, compared to 76.2 per cent for those who used a branch directly.

National Australia Bank and Westpac both have a satisfaction gap of 7.8 per cent, and Commonwealth Bank customers have the smallest gap, with 4.4 per cent.

Bendigo Bank has continued its streak with the highest customer satisfaction (91.2 per cent) when dealing in person at a branch, followed by St George (83.2 per cent), Bankwest 81.5 per cent) and Suncorp Bank (79.0 per cent).

Satisfaction with home loan customers using mortgage brokers is highest at St George (86.9 per cent), followed by Suncorp Bank (79.8 per cent) and Bankwest (74.3 per cent).

Norman Morris, industry communications director, said the negative results for mortgage broker customers weren’t surprising given the publicity banks received in the Banking Royal Commission.

“By contrast, customers who obtained their home loan by going in person into a bank branch have higher satisfaction levels than those that use brokers, particularly for the big four banks,” he said.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 1 week ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 1 week ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 1 week ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

3 weeks 5 days ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

18 hours ago

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

3 weeks 3 days ago