Overall satisfaction with mortgage lenders from mortgage brokers came to 4.25 out of five in the second half of this year, the highest level since 2020.
According to Smart Money People’s H2 2025 Mortgage Lender Benchmark, which surveyed around 1,040 brokers covering 120 lenders, the broker experience index came to 72.4 for the mainstream lender sector, making it the top-rated sector for the first time.
This was followed by buy-to-let (BTL) specialist lenders at 72.1 and building societies at 71.2.
The report noted that the overall broker experience index, which brings together multiple satisfaction and service metrics like speed, services, digital tools and support, rose 0.4 points to 71.
The average net promoter score (NPS) for all lenders increased by around 0.4 points to 41.3.
Looking at specific lenders, Halifax was named the best mainstream lender by brokers as well as the one providing the best overall experience.
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Coventry Building Society was named the best building society lender, while the best later life lender went to Pure Retirement and Pepper Money took the slot as the top specialist lender again.
BM Solutions retained its top spot as BTL specialist, Allica Bank secured the top bridging and commercial lender slot and Atom Bank was named the best digital-first lender.
Jake Sandford, head of data and analytics at Smart Money People, said: “With overall satisfaction across the industry remaining high, it’s encouraging that mainstream lenders like Halifax are leading the way. With lenders in this group receiving a high proportion of business written by mortgage brokers, it’s clear that the experience they offer to brokers matters and is an area that they place huge importance in.
“In addition, it’s always encouraging to see lenders such as Allica Bank and Pepper Money retain their top spots, as providing a consistent service offering is important to brokers and helps these lenders differentiate themselves in such a competitive environment.”
