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The latest Broker Pulse: Commercial Lending report has shown brokers’ reporting turnaround times from non-bank lenders have dropped to 4.3 days for commercial mortgages as of January 2025.
The survey was conducted by Agile Market Intelligence in partnership with CAFBA between 3 and 24 February 2025 and gathered responses from 235 mortgage, finance, and commercial brokers, including 104 active commercial brokers.
Brokers reported that ORDE Financial had the quickest turnaround time for commercial mortgages out of all non-bank lenders and ADIs, coming in at just 3.5 days, followed by Pepper Money at 4.7 days, La Trobe Financial (5.6 days), Liberty Financial (5.9 days), and Resimac at 8.7 days.
Comparatively, the report found that turnaround times among major lenders and business banks were just over a week as of January 2025, 7.6 days for the majors and 7.7 days for other non-major business banks.
Out of the ADIs, Bendigo Bank eked out the top spot at 5.3 days, closely followed by ING at 5.5 days and BOQ at 6.1 days.
ANZ was the only major bank to produce turnaround times of less than a week, coming in at 6.7 days, followed by the Commonwealth Bank of Australia (CBA) at 7.4 days, NAB (7.6 days), and Westpac (7.8 days).
The same was the case for brokers submitting business loans, with non-bank lenders having turnaround times of 4.5 days, while non-bank business lenders came in far and away as the leader in this category with turnaround times of only 1.8 days.
Meanwhile, business loan turnarounds for ADIs stood at 8.4 days for the majors and 9.5 days for business banks.
In terms of broker usage for commercial mortgages, however, the major banks dominated the top four spots for this category, with 37 per cent of brokers going with NAB for commercial lending, 29 per cent for ANZ, 27 per cent for Westpac, and 20 per cent for CBA.
La Trobe Financial and Liberty Finance were the most used non-bank lenders, taking the fifth and sixth spots at 13 per cent and 11 per cent, respectively, while usage from the non-majors dwindled, with 7 per cent of brokers using Judo Bank for commercial mortgages, followed by St.George Bank (5 per cent) and Suncorp Bank (4 per cent).
Additionally, 30 per cent of brokers reported to have submitted commercial mortgages valued at $1,000,001 to $2,500,000. Sixteen and 14 per cent of brokers reported values of $2,500,001 and $5,000,000 and over $5,000,000, respectively.
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