ANZ best for investors

The ALAs are an initiative of Smart Property Investment’s sister publication The Adviser and research house RFi, partnered by Genworth.

The Commonwealth Bank also won Best Third Party Lender and Best Innovator, while general manager mortgage wealth from the Commonwealth Bank, was awarded as Thought Leader of the Year.

Other winners included ING DIRECT, First Home Buyer Lender of the Year, Westpac, Best Self-Employed Lender and ME Bank, Best Customer Experience.

Group publisher of The Adviser Alex Whitlock said that the ALAs provided insight for investors about the institutions at the forefront of the lending industry.

“The Australian mortgage market is the envy of the world right now and it is important to give recognition to the institutions who are leading the field,” he said.

“Australian borrowers have genuine choice when it comes to their home loan, thanks to a competitive and robust lending industry – but picking the right lender is becoming increasingly perplexing.”

In the current environment where lenders are decoupling from the cash rate, buying a mortgage based on price alone can be hazardous with fewer guarantees, he said.

“It is therefore of paramount importance that borrowers pick the right lender for their needs with the product pricing being one of only a number of considerations and so giving clarity to the lenders who are most effectively meeting the needs of customers has never been of greater importance,” Mr Whitlock said.

Uncertainty characterizes the Australian mortgage market, according to RFi director Alan Shields, as their December mortgage survey results revealed that 21 per cent of mortgagors expect problems meeting their repayments over the next 12 months.

“With such uncertainty prevailing, consumers will likely look to hedge their bets when it comes to fixed rates and demand flexibility in their loans,” Mr Shields said.

“The Australian Lending Awards are based on the opinions of 5,000 borrowers and close to 500 mortgage brokers and take into account the actual experiences that consumers and brokers have had,” he said.

The 2012 Australian Lending Awards winners are:

Best First Home Buyer Lender – ING DIRECT

Best Investor Lender – ANZ

Best Self-Employed Lender – Westpac

Best Customer Experience – ME Bank

Best Customer Marketing – Bankwest

Best Online Operator – UBank

Best Wholesale Funder – Advantedge

Best Third Party Lender – Commonwealth Bank of Australia

Best White Label Program – Choice Aggregation Services

Best Non-Bank – Resi Mortgage Corporation

Best Innovator – Commonwealth Bank of Australia

Best Mutual – Railways Credit Union

Best Thought Leader – James Sheffield - Commonwealth Bank of Australia

Mortgage Lender of the Year – Commonwealth Bank of Australia