The review site’s Mortgage Lender Benchmark report for H1 showed broker satisfaction with mortgage lenders increased by 0.8% across all sectors when compared to the latter half of 2023. 

Building societies received the highest satisfaction rating from brokers, with a score of 85.7%. This was followed by lifetime lenders, which scored 85.5%, a 1.9% uplift from the previous rating. 

The 12th edition of the report was based on feedback from more than 950 mortgage brokers who provided 4,490 reviews on 111 lenders. 

Smart Money People found that the average net promoter score (NPS), which measures customer loyalty, for all lenders improved by six-and-a-half points to a score of 38.7. 

This was also the highest score recorded. 

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Atom Bank was named the best bank by brokers and Principality Building Society was named the best mutual. 

Pure Retirement was the top lifetime mortgage provider, according to brokers, and garnered a satisfaction rating of 93% and NPS of 84.8. Interbay was the best buy-to-let (BTL) lender, while Pepper Money was named the best specialist lender. 

Pepper Money received the highest satisfaction rating among all lenders, with a score of 95.7%. It also had the highest NPS at 82.1.

Jacqueline Dewey, CEO of Smart Money People, said: “The increased confidence across the mortgage sector experienced so far in 2024 is very much reflected in our latest Mortgage Lender Benchmark and shows that lenders have met increased demand and volumes positively across the board.

“A significant increase in the overall NPS score from H2 2023 is also a key indicator that the general levels of broker satisfaction with lenders [are] good. The lifetime sector deserves special mention, as their NPS is up 18.7 from the last report.”