Non-majors lead for mortgage satisfaction

The big four are lagging behind the rest of the banks when it comes to the satisfaction of their home loan customers, a new report has revealed.

According to research by Roy Morgan, ING Direct was the top performer of the banks for home loan satisfaction in the six months to April, at 94.3 per cent, followed by Bendigo Bank at 93.3 per cent and ME at 91.2 per cent.

BankWest was next best, with an 87.6 per cent satisfaction rating, while BankSA was at 85.7 per cent, Bank of Queensland was at 85.0 per cent and Suncorp Bank was at 83.0 per cent.

Westpac was the best of the big four, with a satisfaction rating of 79.4 per cent, followed by CBA (78.6 per cent), NAB (76.4 per cent) and ANZ (76.0 per cent).

The report noted that the home loan customer satisfaction levels for the top three banks (ING Direct, Bendigo Bank and ME) is higher than that of their non-home loan customers.

“This is the opposite with the big four, whose non-home loan customers generally have the highest satisfaction,” Roy Morgan said.

[Related: Suncorp reveals new mortgage rates]

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