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Big four's home loan satisfaction rises

The level of satisfaction among the major banks’ home loan customers improved in December, according to a survey conducted by Roy Morgan Research.

The survey revealed that mortgage customer satisfaction for the major banks collectively rose by 0.6 percentage points to 78.8 per cent.

NAB experienced the biggest increase of the big four – up 1.3 points to 78.4 per cent.

ANZ was next best with an increase of 1.0 points to 75.8 per cent, followed by CBA (up 0.5 points to 80.6 per cent).

Westpac was the only major to experience a decline in mortgage satisfaction levels – down 0.4 points to 79.5 per cent.

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Norman Morris, industry communications director at Roy Morgan Research, said that while mortgage repricing by the major banks adversely affected borrower satisfaction levels in October and November last year, the new figures are showing some improvement.

“However, it is likely to take a month or two to return to the pre-increase levels,” he added.

“We have noticed in the past that while home loan customers are very sensitive to any rate increase, particularly when it is accompanied by high-profile adverse publicity, they generally recover after a few months.”

[Related: Home loan demand surges]

Big four's home loan satisfaction rises

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>The survey revealed that mortgage customer satisfaction for the major banks collectively rose by 0.6 percentage points to 78.8 per cent.

NAB experienced the biggest increase of the big four – up 1.3 points to 78.4 per cent.

ANZ was next best with an increase of 1.0 points to 75.8 per cent, followed by CBA (up 0.5 points to 80.6 per cent).

Westpac was the only major to experience a decline in mortgage satisfaction levels – down 0.4 points to 79.5 per cent.

Norman Morris, industry communications director at Roy Morgan Research, said that while mortgage repricing by the major banks adversely affected borrower satisfaction levels in October and November last year, the new figures are showing some improvement.

“However, it is likely to take a month or two to return to the pre-increase levels,” he added.

“We have noticed in the past that while home loan customers are very sensitive to any rate increase, particularly when it is accompanied by high-profile adverse publicity, they generally recover after a few months.”

[Related: Home loan demand surges]

Big four's home loan satisfaction rises
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