New Mortgage Lender Benchmark issued

June 20, 2024 by Brendan O'Neill

Surveys and Statistics

Smart Money People has published the latest edition of its regular Mortgage Lender Benchmark survey that asks advisors to rate lenders, and it is building societies that received the highest rating.

This survey is published twice a year, with the latest one asking advisors for their thoughts about mortgage lenders during the opening half of the year. Perhaps the single most notable point to take from it is that the overall rating that lenders received was their highest since the report was first published. The average rating for UK lenders was 83.7%, which is a rise of 0.8% on the score for the last half of 2023.

Scores rose across the board – with advisors rating lifetime lenders, specialist ones, banks and building societies more highly than in the last report. It was the latter group that did the best though. The overall rating for building societies was 85.7%. The second highest rated group was lifetime lenders on 85.5%.

More than 950 mortgage advisors took part in it and they were asked for their feedback on a total of 111 mortgage lenders. Principality BS was the building society that rated highest, while Atom was the bank with the best score. Best specialist lender was Pepper Money and Pure Retirement topped the lifetime rankings.

Jacqueline Dewey from Smart Money People said that the results show lenders have worked hard to boost their volumes and demand.

It is good news for anyone who has done the CeMAP training course that mortgage lenders across all sectors have improved their performances.