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Newbury Building Society’s Intermediary Unit has celebrated strong scores in its latest broker satisfaction survey, collected and analysed by independent review service, Smart Money People.
The exceptional results included:
- Overall satisfaction rating of 91.9 - 12 points higher than the UK building society average of 79.9
- Net Promoter Score of 79.7 (how likely a broker is to recommend an organisation to others) - an impressive 65 points higher than the UK building society average of 12.8
- Satisfaction with relationship managers rating of 90.6 - 10.3 points higher than the UK building society average of 80.3
Speed to process applications through to offer continued to be highly important to brokers, and the Society scored a staggering rating of 85.9 - 17.8 points higher than the UK building society average of 68.1 - while ease of determining product eligibility rated highly at 87.1 (6.2 points higher than the UK building society average of 80.9).
The Society’s Business Development Manager’s continued to be an exceptional area of strength as brokers praised the team for being ‘honest’ ‘knowledgeable’ and ‘friendly’. Those who were surveyed also valued the manual approach to underwriting and the ease of access to an Underwriter directly.
In addition, the Society’s product range and flexibility generated positive sentiments with the Shared Ownership mortgage products noted as a particular highlight.
Karen Smith, Sales Manager at Newbury Building Society said: “I am absolutely delighted with the results of report especially in such challenging times. We have a very good understanding of broker business and have a strong focus on the individual relationships with firms and the added value it brings. It is therefore encouraging to see that our strategy and thinking works. Our team of BDM’s and Intermediary Sales Advisers have responded very positively to the change in the way we have had to do business over the last year and I couldn’t be prouder of their achievements”
Thank you to those who took the time to complete the survey. Your feedback is of the utmost importance to us as we endeavour to provide you with the right tools at the right time to help your clients fulfil their homeownership ambitions.
Smart Money People’s Mortgage Lending Benchmark (H2 2020) is an independent research study conducted every six months and is formed of three core elements: market insight, lender specific insight and technology enablement.
58 pieces were collected between 24 August and 31 January 2021, and analysed by Smart Money People. Building society averages were calculated from 1146 pieces of broker feedback across 30 building societies.