Westpac

What do brokers like most at Westpac?

1. Significant service improvements and speed

IMany brokers highlight a “massive turnaround” in Westpac’s service over the past 12–24 months, praising their increased speed, competitive pricing, and overall reliability, making them a preferred lender for many.

Westpac was rated higher than average for products, speed, and technology

2. Excellent policies and credit hotline access

Westpac is frequently commended for its “great allrounder policies” and good credit policies. Brokers also value the “good access to credit via hotline” for scenario discussions.

3. Positive overall experience and competitive pricing (for some)

Despite some criticisms, a substantial number of comments indicate an “excellent overall experience”, with brokers noting “great pricing” and their improved ability to win deals based on Westpac’s current offerings.

What are Westpac’s weak spots?

1. Inconsistent and unresponsive BDM support

A significant number of brokers express frustration with their BDMs, citing lack of availability, vague answers, and a perceived lack of knowledge or willingness to assist, leading to a feeling of being rushed or unsupported.

2. Clunky digital systems and limited post-settlement access

Brokers frequently complain about the clunkiness of Westpac’s ApplyOnline system, particularly for top-ups, and a lack of access to crucial post-settlement information like client loan balances and rates on the broker portal, hindering efficient client management.

3. Rigid credit assessment and settlement processes

Concerns are raised about Westpac’s credit assessment process being too rigid with little flexibility, slow reassessment times for new information, and difficulties with the settlement team, including poor communication and a general “dreadful” experience.