Home loan customers satisfied with banks

7 December 2018

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.

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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.

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