Which lenders proved the most popular for commercial brokers?

The latest Broker Pulse: Commercial Lending survey conducted by Agile Market Intelligence in partnership with the Commercial & Asset Finance Brokers Association (CAFBA) has shown the most popular lenders used by commercial and finance brokers over October 2024.

This latest survey collected a total usable sample of 291 mortgage, finance, and commercial brokers, which included 122 active commercial brokers.

According to the data, ANZ proved the most popular for broker usage for commercial mortgages, with 36 per cent of respondents saying they submitted commercial mortgages to the major bank.

Closely following in second place was NAB at 34 per cent, with Westpac rounding out the top three at 25 per cent.

La Trobe Financial proved to be the most popular non-bank lender for this category, with 22 per cent of brokers citing its usage, edging out Australia’s largest bank, the Commonwealth Bank of Australia (CBA), at 21 per cent, who tied with Liberty Financial.

Suncorp Bank, Judo Bank, ORDE Financial, and St.George finalised the top 10 with usage rates of 12 per cent, 6 per cent (both Judo and ORDE), and 4 per cent, respectively.

For business loans, non-bank lender Shift emerged as the most popular choice for brokers at 32 per cent, followed by NAB at 29 per cent.

ANZ and Judo Bank tied at 17 per cent, followed by Dynamoney (12 per cent), CBA and Prospa (11 per cent), Lumi and Moula (10 per cent) and Westpac at 9 per cent.

Meanwhile, Westpac was the most popular choice for brokers submitting asset finance loans at 45 per cent; however, this category was largely dominated by non-bank and non-major lenders.

Metro Finance was the second-most popular choice at 40 per cent, followed by Angle Finance (36 per cent), Flexi Commercial (33 per cent), Dynamoney (29 per cent), Capital Finance (28 per cent), BOQ (25 per cent), and Pepper Money (21 per cent).

CBA and NAB were the least popular out of the top 10 at 14 per cent and 10 per cent.

Commenting on the data, Agile Market Intelligence commercial director Oliver Stofka told Broker Daily: “There is an interesting trend from brokers when it comes to commercial lending, as expected, we are seeing the major lenders mostly dominating commercial mortgages, but this is not the case when it comes to asset finance.

“Westpac was the most used lender, but bar Westpac, Commonwealth Bank is the next major lender, coming in at ninth most used.

“The speed and consistency that the non-bank and non-major lenders turn around asset finance, provides them a great platform to serve brokers and this is being well received.”

[RELATED: Smaller lenders providing the quickest business loan turnarounds]

Adrian Suljanovic is a journalist at Broker Daily with more than two years experience reporting on all facets of the third party distribution channel.

Adrian has written for a range of business and finance titles including IFA, Investor Daily and Lawyer’s Weekly before joining the mortgages team in 2022.

He graduated from the University of Wollongong in 2021 gaining a Bachelor of Communication & Media with a major in Digital & Social Media.

E-mail Adrian at: This email address is being protected from spambots. You need JavaScript enabled to view it.