24th February 2012
Commonwealth Bank named Mortgage Lender of the Year
This week, we were recognised as Australia’s Mortgage Lender of the Year at the Australian Lending Awards in Sydney.
In what the organisers billed ‘a closely fought contest’, we swept the awards and were also named:
- Best Third Party Lender
- Best Innovator
- And our general manager of mortgage wealth, James Sheffield was also honoured as, Thought Leader of the Year
The Australian Lending Awards recognise the country’s top mortgage lenders.
A joint initiative of leading mortgage and finance resource, The Adviser, and research house RFi, and partnered by Genworth; the Australian Lending Awards are the leading benchmark for the nation’s best mortgage providers.
Other winners at the 2012 event included, ING DIRECT, who took out First Home Buyer Lender of the Year, Westpac, who took out Best Self-Employed Lender, ANZ, who won Investor Lender of the Year, for the second year running, and ME Bank, who took home the award for Best Customer Experience.
According to The Adviser’s group publisher, Alex Whitlock, the 2012 Australian Lending Awards provides invaluable insight into which institutions are at the forefront of Australia’s mortgage lending industry.
“The Australian mortgage market is the envy of the world right now and it’s important to give recognition to the institutions who are leading the field,” he said. “Australian borrowers have genuine choice when it comes to their home loan, thanks to a competitive and robust lending industry – but picking the right lender is becoming increasingly perplexing.
“Borrowers have been bombarded by so much information over the last few months that they are more confused than ever as to what constitutes a ‘good’ lender and what doesn’t.
“The government has placed the emphasis firmly on rate and has duly legislated to enable borrowers to switch to a lower rate, however this is rarely a practical or sensible step in my opinion.
“The recent decoupling from the cash rate by most lenders has made buying a mortgage on price alone even more hazardous as there are now fewer guarantees that any one lender will consistently offer the lowest variable rate for any given time.,
“It is therefore of paramount importance that borrowers pick the right lender for their needs, with the product pricing being one of only a number of considerations.” Mr Whitlock said.
Based on comsumer experience
As the only research-based industry awards in the country, the Australian Lending Awards provide the most rigorous guide as to which lenders are leading the field across the full spectrum of mortgage products and services, according to RFi Director, Mr Shields.
“The Australian Lending Awards are based on the opinions of 5,000 borrowers and close to 500 mortgage brokers and take into account the actual experiences that consumers and brokers have had,” he said.
“Moreover, finalists in the Australian Lending Awards must present their submission to a panel of judges and respond to any queries regarding their business’ strategies, results and drivers.”
As a result of their robust methodology, the Australian Lending Awards are the recognised benchmark for success in mortgage lending, according to Mr Whitlock.
“Winning an Australian Lending Award is the highest accolade in the Australian mortgage industry.”
The 2012 Australian Lending Awards winners are:
Best First Home Buyer Lender – ING DIRECT
Best Investor Lender – ANZ
Best Self-Employed Lender – Westpac
Best Customer Experience – ME Bank
Best Customer Marketing – Bankwest
Best Online Operator – UBank
Best Wholesale Funder – Advantedge
Best Third Party Lender – Commonwealth Bank of Australia
Best White Label Program – Choice Aggregation Services
Best Non-Bank – Resi Mortgage Corporation
Best Innovator – Commonwealth Bank of Australia
Best Mutual – Railways Credit Union
Best Thought Leader – James Sheffield – Commonwealth Bank of Australia
Mortgage Lender of the Year – Commonwealth Bank of Australia