Service delivery has leapfrogged price as the determining factor brokers use to judge the banks competing for their business.
Credit policy, BDM support and turnaround times lead broker priorities, and competitive pricing alone no longer makes up for weak service or channel strain.
That priority order has remained intact across 2025 and 2026.
MPA’s Brokers on Banks 2026 is based on broker evaluations across 10 performance benchmarks and identifies the products and practices associated with top-performing banks. The data indicates a more experienced, higher-volume broker cohort who rely less on purely residential lending and serve a wider spectrum of client needs.
Credit policy is no longer just the top-ranked factor; it’s the gatekeeper. Banks are operating within tighter assessment constraints, including a three-percentage-point serviceability buffer along with limits on high debt-to-income lending that narrow approval flexibility. Brokers now judge banks first on whether deals can be approved under consistent, predictable rules. As one broker put it succinctly: “Speed, simplicity, good policy.”
Competition for distribution has intensified. Former FBAA managing director Peter White (who stepped down in February), says, “All the broking sector asks is that banks support customer choice, and we know that around three-quarters of borrowers choose to use a mortgage broker. Banks simply have to accept the choices of Australian consumers and work with brokers, not against us. Everyone wins this way.”
Brokers accounted for 77.3% of all new residential lending in the September 2025 quarter, MFAA data shows, even as banks invest in proprietary channels. This dynamic is intensifying concern around channel conflict and uneven treatment, prompting closer evaluation of how banks engage with brokers.
Service delivery is under watch. Speed remains a top-three priority, yet turnaround times continue to draw criticism as approval pathways vary widely.
Digital platforms and product range retain influence beyond the top tier, both scoring above four. Commissions, communications and diversification rank lowest for brokers.
Leading banks are emerging as standouts through predictable approvals, responsive broker support, and credit frameworks that accommodate a wide range of borrower profiles. One broker described these lenders simply as “reliable and easy to use”.
Australia’s brokers have stripped decisions back to mechanics. MPA’s findings identify the banks delivering on those fundamentals.
As brokers place greater weight on dependable approvals, credit policy remains the top-ranked priority, with pricing and product range trailing
After climbing dramatically from fifth place in brokers’ priority list in 2024 to first in 2025, credit policy retained the highest-scoring spot again this year. Respondents were blunt: “Rigid policies kill deals.”
Over one in three brokers cited credit policy when asked why they had given more business to a particular bank, making it the most frequently named driver of lender preference.
The banks that are winning broker business consistently
assess a deal sensibly
apply policy predictably
back brokers with strong BDMs
make fast decisions
Bankwest again topped the credit policy rankings, reflecting broker confidence in its approval consistency, with a hat-trick of wins since 2024.
Macquarie Bank retained second place, reinforcing that consistent policy remains central to broker loyalty.
As the only big four bank with medals in four categories, CommBank placed third in credit policy as well as communications, training and development. It earned second-place finishes for online platform and services and diversification opportunities.
TM Finance Group director and finance broker Kylie Donelly says banks are accommodating modern buyers through government schemes, but she sees a gap appearing between policy and credit appetite. “My role today is ensuring that regional clients in Gippsland get the ‘new customer’ benefits they deserve, regardless of how long they’ve been with their bank,” Donelly says.
Interest rates remain important to brokers but are no longer the key factor in their lender selection. After dropping from first in 2024 to fourth in 2025, rates were ranked in the same position in 2026, with a strong score of 4.4/5.
LendX director and senior finance broker Amelia Pignone says, “All other things being equal, such as rates and features, if some lenders are harder to deal with than others, we favour the ones that deliver outcomes for our clients more easily, especially when they are far faster to approval.”
Brokers were more upbeat in 2026 than last year about products and pricing. Those who felt things had worsened fell from about one in six to one in 10, while those reporting improvements were up by more than a third. Yet most still see little real change, suggesting gradual refinement rather than structural change.
ING continued its reign at the top, with brokers calling it out for consistently competitive interest rates and products and quick assessments. Macquarie Bank retained second place, while NAB-owned Ubank took third and matched that position in turnaround times.
Product range slipped to sixth with a score above four. Brokers are no longer rewarding breadth for its own sake. The focus has shifted to whether banks can deliver on the products that drive client outcomes. Macquarie Bank again leads this category, followed by Bankwest and Westpac, reflecting a preference for depth and usability over sheer range.
Macquarie finished first overall for the fifth consecutive year, with broker satisfaction rising to 4.137/5. Except for diversification opportunities, the top-rated bank continued its first-place winning streak in turnaround times, online platform and services, product range and brand trust. It saw first-place gains in BDM support and communications, training and development, and retained second place in commissions, credit policy and interest rates.
Diversification opportunities again ranked lowest in this year’s survey. NAB leads, ahead of CommBank and Westpac, but brokers view these offerings as optional. Cross-selling capability is welcomed, but not at the expense of core lending performance.
Trust, commissions and broker support are edging forward as markers of which banks brokers believe are playing fair
Broker support categories still trail policy, speed and credit decision quality, yet the 2026 results show they now play a more defined role in lender selection.
Brand trust retained seventh place for a second year, with a modest score increase. That improvement coincides with growing concern about channel behaviour, signalling greater sensitivity to fairness and transparency.
As Peter White says, “We must remember that the clients of brokers are also clients of the lenders, so it’s not a competition. Banks benefit when they support the broker channel rather than work against it.”
Broker feedback reveals that trust is judged through experience – highlighting the need for consistent policy, effective escalation when files become complex, and respect for the broker’s role.
“For me, it’s about the simple things,” says LendX’s Amelia Pignone. “When a client submits a discharge, and we get a call or email from the retention team letting us know, that’s a major comfort and an obvious sign that helping our business also helps their business.”
Commission structure shows a similar pattern. Still a lower-ranked priority, it has moved ahead of communications and training in 2026. Broker comments point to a practical mindset. Payment consistency and reliability matter, as uncertainty around clawbacks or changing terms can erode confidence in lenders.
Communications, training and development have slipped back one place. Brokers value updates, guidance and access to relevant education, but only when these complement strong lending performance.
Diversification opportunities remain at the bottom of the priority list, viewed as optional extras rather than reasons to redirect volume.
Broker commentary reinforces the same theme across these categories. Lenders that invest in their broker channel, provide accessible support and make transactions easy are remembered positively. Ease of use, reliable processes and human support when issues arise all feed into how brokers assess trust and long-term fit.
When brokers explain why they would give more business to a particular lender, they consistently point to a mix of the following fundamentals:
“Turnaround times and credit policy”
“BDM support and great rates”
“Reliable and easy to use”
Macquarie Bank stands out for its speed and credit policy, winning volume because brokers trust the lender to deliver when time is tight.
Westpac is recognised for its workable policy and reliability, pairing competitive pricing with dependable execution. ANZ attracts business through policy nuances and relationship-led support.
In 2026, the brand trust podium remains unchanged, with Macquarie Bank retaining first place, followed by ING and Bankwest in second and third.
Commission structure delivered a familiar result: Bankwest again led for the fifth consecutive year, with Macquarie Bank in second. NAB debuted in third place.
In the communications, training and development category, positions continue to rotate at the top. Macquarie Bank reclaimed first place in 2026, Bankwest followed in second, and CommBank maintained its long-held third position.
As turnaround times come under strain, brokers are backing lenders that offer strong relationship support and systems that keep files moving
Brokers increasingly view BDM support and turnaround times as safeguards that determine whether delays will be resolved or deals lost. In 2026, both categories hold elevated positions from last year.
BDM support remains second overall, retaining the position it reached in 2025 after jumping from fourth the year before. What began as a push for better relationships is essential for internal advocacy. LendX’s Amelia Pignone says, “A strong relationship with the BDM is a major driver for us. When a BDM changes lenders, a lot of the business follows.”
Brokers describe direct support as crucial when files become complex. Strong BDMs are valued for their authority to escalate issues and interpret policy.
Macquarie Bank moves into first place in 2026, ending a three-year run at the top for Bankwest, which slipped to second while ING retained third.
Turnaround times moved up three spots to third place in 2025 and stayed there in 2026, but sentiment has turned. Expectations are higher, tolerance lower and delays more acute.
Compared with last year, broker sentiment on turnaround times has shifted materially. The share reporting deterioration rose from 6.67% in 2025 to 27.84% in 2026, while reports of improvement fell by approximately 20 percentage points.
A widening gap between reliance on speed and confidence in delivery is increasingly influencing lender choice and exit decisions.
Broker feedback shows that disengagement often follows recurring breakdowns across BDM support, process and delivery.
Brokers consistently link reduced volume to weakening relationship support. Changes in personnel, slower responses or limited authority often expose lenders’ deeper service problems. Where advocacy disappears, confidence follows.
What brokers notice first are:
handoffs between BDMs that break continuity on live files
no single point of ownership when a deal goes off track
Extended approval timelines, inconsistent SLAs and slow post-approval handling prompt brokers to redirect business, particularly when other channels appear to move faster.
Patience runs out when:
pre-approvals are expiring before they can be used
post-approval and settlement teams are working out of sync
Brokers distinguish between systems that streamline work and those that complicate it. In 2026, technology earns credit only when it shortens decision cycles and improves visibility. Brokers note that these issues are not confined to individual lenders but reflect uneven execution across the sector, particularly where policy and systems are misaligned.
Parker Finance mortgage and finance broker David Philipsen says, “The banks, in general, are good to work with. Ideally, it would be helpful if they implemented federal government policy more consistently. In addition, some are lagging on technology, making their application-to-settlement process too time-consuming.”
Common failure points are:
portals that are unstable or difficult to navigate
assessment outcomes that vary by assessor
digital steps that increase effort without improving speed
Several brokers reduced volume because performance became unpredictable. When reliability fades, brokers move on.
Macquarie Bank again topped turnaround times in 2026, with Bankwest moving up to second place. Ubank debuted in the third spot, reflecting satisfaction with a model emphasising efficiency and online delivery.
Online platform and services hold fifth place for a second year. Brokers point to tangible efficiency gains from better portals, faster document upload, automated compliance checks and wider use of AVMs. Tools such as Quickli, ApplyOnline, DocuSign, Digital ID and NextGenID were frequently cited, alongside systems that surface client data and reduce rework.
Here, execution again matters more than novelty. Macquarie Bank leads online platform and services for the second year, followed by CommBank and Bankwest. Brokers highlighted clean portals, local decisioning, systems supporting faster assessment, and some lenders’ incremental process improvements (eg in valuations and digital submissions).
Brokers expect volatility and adapt quickly but are raising concerns about fairness, transparency and market conduct
Brokers are calm about the rate environment, with about half describing it as part of a normal cycle. Many say rate moves generate client conversations, and enquiries continue regardless of settings.
For many brokers, stability has shifted attention from price to lender performance. That optimism coincides with an RBA-easing cycle that began in early 2025, trimming the cash rate from 4.10% to 3.85%, where it held into early 2026. Brokers’ concerns focus instead on reduced borrowing capacity, affordability constraints and the risk that rates stay higher for longer than clients expect.
The most highly rated banks show long-term commitment to the channel, supporting brokers with settings and service that keep clients moving forward.
In 2026, concern about channel conflict intensified. The share describing it as a major problem rose from approximately one in three last year to nearly half, while those dismissing it as no problem now represent a small minority.
One broker reported that clients calling to discharge a mortgage are advised to visit a branch to access a better rate. “Additionally, clients may be eligible for a cashback rebate if they complete the process in-branch. This creates a channel conflict, as the optimal outcome for the client depends on the method of engagement rather than the product itself.”
Broker feedback indicates this reflects first-hand experience. Direct contact with broker clients, pricing available only through proprietary channels, and approvals perceived to differ by channel were a recurring complaint.
While a minority downplay the issue, the tone has shifted from tolerance to scepticism, shaping lender choice. As banks push to grow proprietary channels in a broker-led market, brokers reward those that resist undercutting partners and compete on service, policy and consistency.
MPA names the top performers in the 2026 Brokers on Banks survey, outlining where they led the market and why brokers preferred them
To generate the overall survey results, MPA took an average of the results across each category. Each category had an equal weighting in the final result.
Note: Scores go from 1 (very bad) to 5 (very good)
Position in 2025: 1st
Position in 2024: 1st
Macquarie Bank marks its fifth consecutive year as the overall first-place winner in the Brokers on Banks survey, underpinned by a performance that brokers describe as “dependable”. The major mid-tier lender competing nationally with Australia’s big four collected nine medals in 2026, comprised of six golds and three silvers. First-place finishes spanned product range, brand trust, online platform and services, turnaround times, BDM support, and communications, training and development.
It also placed second for credit policy, interest rates and commission structure. Overall broker satisfaction rose again to 4.137 out of 5, continuing an upward trend.
Turnaround time remains the clearest differentiator, with brokers citing fast assessment and short approval windows as the reasons why Macquarie Bank is the default choice when timing is tight. One broker summed up why they gave more business to the leading lender: “24-hour approvals, great product and the best online banking”. That strength carries through to systems and trust, with top rankings in online platform and services and brand trust, and brokers characterising the experience as reliable and easy to use.
Brokers describe its credit policy as workable and predictable, supporting consistent outcomes – reflected in a second-place ranking in 2026. BDM support was another clear strength, with brokers praising the bank’s escalation pathways and internal authority. One said, “If there are time constraints, it is often too easy to recommend Macquarie.”
Macquarie Bank’s Offset Home Loan again topped brokers’ product rankings, and it remains the preferred lender for property investors.
“Macquarie Bank stands out for sustained investment in the broker channel and internal systems, delivering reliable speed and workable credit policy. Under tight timelines, brokers trust it to get deals through”
Position in 2025: 2nd
Position in 2024: 2nd
One of only two banks to score above 3.8, finishing within 0.3 points of the overall leader, Bankwest again secured second place. The result reflects consistent performance across multiple categories.
Bankwest retained first place for credit policy and commission structure, reinforcing its long-held reputation for settings brokers understand and can work within. Its policy is seen as flexible but predictable, particularly around income treatment, giving brokers confidence to place deals without second-guessing outcomes.
Bankwest strengthened its showing on service and delivery, placing second for both product range and turnaround times. Its silver medal for BDM support and communications, training and development points to sustained investment in broker engagement.
Brand trust remained in third position, as did online platform and services, with brokers citing straightforward portals and usable customer-facing technology. Bankwest’s Complete Variable Home Loan again earned top product recognition, and the bank remains a preferred lender for foreign non-residents and property investors.
Position in 2025: 3rd
Position in 2024: 5th
Digital bank ING finished just over a quarter of a point behind second place, consolidating its position among the survey’s top tier. After holding third overall for two consecutive years, it remains a consistent presence at the top end of the rankings.
ING again led the field on interest rates, reinforcing its reputation as a rate-led lender that brokers describe as consistently competitive. It’s also one of brokers’ preferred banks for property investors. Turnaround times are regularly described as quick and dependable, allowing competitive rates to convert into approvals without delay, even though it narrowly missed the podium this year.
Brand trust remains another pillar, with ING retaining second place. It placed third again for BDM support, with brokers characterising the bank’s team as solid and reliable.
ING is often mentioned alongside another lender, most commonly Macquarie Bank, reflecting its role as a complementary option. Brokers turn to ING when pricing matters most, confident it will deliver efficient outcomes and follow through on what it offers.
Position in 2025: 5th
Position in 2024: 11th
One of only two big four banks to place in the top five, Westpac continued its upward momentum in 2026, finishing fourth overall. The result reflects improving broker satisfaction year-on-year.
Westpac held third place for both diversification opportunities and product range. Brokers again named it among their preferred banks for first home buyers and foreign non-residents.
Broker feedback consistently frames Westpac as a dependable, balanced option. Competitive rates are frequently cited alongside workable credit policy, solid turnaround times, reliable processing and easy-to-use systems. While it’s not positioned as the fastest lender in the market, brokers describe confidence that deals will progress as expected. Several refer to Westpac as a “best all-round bank”, reflecting trust in its ability to deliver across the basics without surprises.
Position in 2025: 7th
Position in 2024: 7th
As the second big four bank to land inside the top five, NAB recorded a clear year-on-year improvement in broker satisfaction.
The stronger result is underpinned by NAB’s first podium appearances. It placed first for diversification opportunities and third for commission structure, reflecting its appeal beyond standard lending. Broker feedback consistently positions NAB as a business and commercial lender of choice. It is cited for its business banking support and for handling more complex or self-employed borrowers. Credit teams that can work through non-standard scenarios, supported by access to assessors and responsive BDMs, garner broker praise.
Brokers also named NAB one of their preferred banks for first home buyers, property investors and commercial lending.
In addition to rating banks in 10 categories, brokers identified the mortgage products that stood out over the past 12 months. These are the top three:
Offset Home Loan Package
Macquarie Bank’s Offset Home Loan Package again topped brokers’ product picks, reflecting consistent confidence in its structure and delivery.
Brokers point to competitive rates, multiple offset accounts and a straightforward fee structure as core attractions.
The product is widely described as easy to lodge and simple to quote, supported by digital tools that reduce rework and keep applications moving.
Speed of assessment is frequently mentioned alongside workable policy and responsive credit support, reinforcing its appeal across a wide range of client scenarios.
These features position the product as a reliable, flexible option that brokers return to when clients value efficiency, transparency and offset functionality.
Complete Variable Home Loan
Bankwest’s Complete Variable Home Loan secured second place in brokers’ product picks, recognised for competitive pricing and straightforward features.
Brokers point to flexible offset options as a key drawcard, with multiple offset accounts available either through the Complete Home Loan Package or as optional add-ons for a monthly fee.
The product’s appeal is reinforced by an app and online platform brokers describe as easy to use and intuitive for clients. Positioned as uncomplicated and dependable, it delivers practical functionality without unnecessary complexity.
For brokers, the product’s strength lies in covering the essentials well, combining usable digital tools, accessible offset features and pricing that holds up across everyday lending scenarios.
Back to Basics
Suncorp Bank’s Back to Basics Home Loan placed third in brokers’ top product picks, recognised for its simple, low-cost structure and competitive approach.
Brokers describe it as cheap, simple and easy to understand, highlighting its appeal for borrowers who prioritise straightforward pricing and minimal fees.
The loan offers a low variable rate with no ongoing account-keeping or annual package fees, and supports extra repayments and redraw options as needed.
Its streamlined design makes it easy for brokers to discuss with clients and positions the product as a reliable choice for standard lending scenarios, without the added features of offset accounts or packaged add-ons.