Our latest and sixteenth edition of the Mortgage Lender Benchmark Study captures a market that is more settled than in recent years, but still far from straightforward. Brokers are operating in an environment shaped by ongoing affordability pressures, regular product movement, tricker borrower circumstances and increased service expectations. While pricing remains important, this edition shows that lender choice is increasingly influenced by confidence. That confidence is built through familiarity, knowing criteria are clear, systems will work, communication will be timely, and cases will keep moving forward.
Overall satisfaction stood at 4.22 out of 5, the Broker Experience Index at 70.2, and Net Promoter Score at +40.9. These remain strong results, although each measure has softened slightly since H2 2025. Whilst this doesn’t suggest the market is going backwards, it does reflect rising broker expectations and a growing distinction between lenders that consistently deliver a smooth experience and those that don’t. Also, this edition covered a fluctuating rate period and so the results are even stronger bearing that in mind.
A market where confidence is a must
Mortgage brokers continue to place high value on lenders that make the process feel well managed. In H1 2026, brokers want lenders that are clear about lending and their lending appetite, true to timescales, and consistent and accountable in how they assess and progress cases. Simply offering a competitive rate isn’t enough – and hasn’t been for a while now.
This reflects the broader market environment. Borrowers remain highly focused on affordability, product transfers continue to influence decision-making, and brokers are dealing with more cases involving complex incomes, credit issues, landlord structures and later life lending needs.
As a result, brokers are looking beyond whether a lender can simply accept a case. They want to know whether that lender can deliver a smooth, predictable experience for both broker and client.
The lenders that stand out are those that make the process easier and remove uncertainty. They offer clear criteria, straightforward affordability assessments, effective communication and the reassurance that cases will continue to progress without unnecessary delays.
The broker’s shortlist is narrowing
Our market insight findings show that brokers are becoming more selective about where they’ll place business.
Good pricing isn’t enough on its own. Brokers obviously factor rates highly when choosing a lender, but the majority also combine this with criteria flexibility, ease of process, service reliability, speed, BDM support and previous experience.
This has important implications for lenders:
- A competitive rate is a good starting point, but it doesn’t guarantee getting that enquiry or application.
- Brokers are increasingly likely to favour lenders they trust to deliver, particularly when client expectations are high or the case has obvious added complexity.
For lenders, this means poor service can have a lasting effect. A delayed or difficult case may not only affect one application. It can influence whether a broker includes that lender on future shortlists.
What this means for the market
H1 2026 is a reminder that broker experience is built across the whole journey.
A strong proposition gets a lender considered. But reliable execution gets a lender recommended. The highest-performing lenders are those that combine competitive products, clear criteria, responsive support, effective systems and consistent communication.
So, what should lenders focus on?
Brokers want greater certainty at the point of research, fewer avoidable delays during underwriting, more proactive communication and technology that genuinely reduces friction.
They also want BDMs and support teams that can provide informed guidance when cases aren’t straightforward.
Despite more and more regular periods of rate uncertainty, it’s clear that lenders are facing up to this challenge and have learnt lessons along the way. Our results strongly indicate that brokers have more confidence with a wide range of lenders – keep up the good work!
