If there’s one thing our H1 2025 Mortgage Lender Benchmark made clear, it’s that broker expectations are rising.
In the first half of the year, brokers told us what’s working, what’s not, and which lenders are getting it right.
So, I’ve pulled out some of the key signals from our H1 2025 Mortgage Lender Benchmark, and what they might tell us about what’s coming in H2.
Five H1 signals you shouldn’t ignore
1) Satisfaction is up and at a four-year high
Overall broker satisfaction rose again to 4.22 out of 5, the highest since 2020. That might sound small, but in a fast-moving market, even small gains show real progress in brokers’ everyday experience.
2) A clearer view of broker journey
We introduced the Broker Experience Index, which combines scores for speed, service, digital tools and support. It debuted at 70.6. Building societies top the table at 71.5, with mainstream lenders just behind at 71.4. The takeaway? The best performers come from blending people, processes and tech, not relying too heavily on any one of them.
3) Most brokers are recommending lenders
The average Net Promoter Score (NPS) for all lenders rose to +40.9, up 5.0 points from H2 2024. This means more brokers are willing to recommend their go-to lenders – a strong sign of consistent and reliable performance.
4) Standout performers show what ‘good’ looks like
Brokers named Halifax best mainstream lender and Principality Building Society best building society (the latter retaining their top-rated H2 2024 status). Canada Life led Later Life lending, Pepper Money topped specialist (also retaining their H2 2024 status). Elsewhere, BM Solutions led buy to let, Allica Bank headed bridging / commercial, and LendInvest was recognised as the best ‘digital-first’ lender. While these lenders have different specialisms, they all share the same winning approach – delivering consistency and seamless experiences at every step.
5) Scale you can trust
This edition captured feedback from 1,111 brokers across 600 firms, covering 134 lenders (representing 98% of UK gross mortgage lending). That breadth gives us confidence we’re seeing the full story and gives lenders confidence to act.
What we’re looking out for in H2
We’ve just finished gathering broker feedback for the H2 2025 Lender Benchmark – due in early December 2025. Here’s five questions we’re looking forward to seeing feedback on:
1. Speed vs. certainty: With service improving, do brokers now value predictability over case speed? What lenders are getting the balance right?
2. Digital done right: Which tools really cut down on re-keying and admin (like pre-submission checks or live case updates), and which ones just add extra steps?
3. Handling complex cases: In later life, buy to let and complex credit, who’s combining clear underwriting with human support when it matters?
4. People power: How are lenders making BDM access and case ownership easier, especially on tricky cases?
5. Retention and product transfers: Are existing borrower journeys keeping up with new business processes, or is there a service gap?
We’re looking forward to revealing what brokers really think about lenders for H2 2025.
Jake Sandford is head of data and analytics at Smart Money People
