According to research from Smart Money People, satisfaction levels for all lenders have risen to 74.2 per cent in the second half of the year, up from 73.7 per cent in the first half.
The survey of over 700 brokers showed contentment with the speed of processing at banks and building societies was fairly equal, with respective scores of 81.3 per cent and 81.7 per cent.
Compared to the first half of the year, these represented increases of 7.1 per cent for how quickly banks process applications and a 6.5 per cent increase for building societies. Both were the highest scores recorded since the survey began.
Satisfaction towards lifetime lenders also bettered with a rating of 77.9 per cent in H2. This is the highest score recorded since 2018, when the survey began.
Specialist lenders had a rating of 62.5 per cent for speed, a 0.3 per cent increase from the first half of the year.
Jacqueline Dewey, chief executive of Smart Money People, said the continued growth in broker satisfaction showed the mortgage market was “returning to normality” with the overall score for lenders currently just below the all-time high of 75.8 per cent at the start of last year.
She added: “The fact that banks, building societies and lifetime lenders have now received their highest level of broker satisfaction for speed since our benchmark began in H2 2018 is testament to the hard work put in by these lenders over the last six months as the market calms down.
“We would naturally expect specialist lenders to rate lower for speed due to their nature of their complex applications, however a difference of almost 20 per cent in broker satisfaction is surprising.”
