Lender performance under the spotlight as broker survey launches

Momentum Intelligence — the research arm of Momentum Markets — has opened its Third-Party Lending Survey, an annual survey that asks brokers across Australia to evaluate the performance of lenders that they have worked with over the past 12 months.

The survey asks brokers to assess lender performance across 17 attributes that encompass the lender’s entire offering to the third-party channel. These include turnaround times, channel conflict, service, technology, products, communication, education, service, and support, among others.

The results of the survey are used to compile the Third-Party Lending Report, a diagnostic tool that identifies expectation shortfalls, service quality trends, and constructive feedback from mortgage brokers.

The report aims to help lenders understand their strengths and weaknesses and provides them with an opportunity to improve their offerings for brokers.

The survey, which takes just a few minutes to complete, is open to mortgage brokers and finance brokers across Australia with questions covering residential, commercial, business, and personal loans.

Respondents have until Sunday, 30 April 2023 to complete the survey.

Helping lenders tailor their broker offering

Momentum Intelligence director Michael Johnson said the survey offers an opportunity for brokers to provide detailed feedback to lenders and underscored the value of this data in effecting positive change.

“Lenders look at the Third-Party Lending Report to gauge how brokers perceive and rate their products and services. This helps them design and implement their strategic investments for the next 12 months and beyond,” he said.

“In the current economic environment where interest rates continue to rise rapidly, brokers are on the lookout for lenders with the best service offering and competitive price on mortgages.

“This survey is a chance for brokers to communicate their sentiments directly to the decision-makers at these lenders so they can enhance their approach to the third-party channel.”

At the completion of the survey, respondents will be able to enter a prize draw for an opportunity to win a $500 Visa gift card, courtesy of our sister brand, The Adviser.

The key findings of the Third-Party Lending Report will also be published in The Adviser magazine later this year.

Click here to complete the 2022 Third-Party Lending Survey by Sunday, 30 April 2023.

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