ROOM FOR IMPROVEMENT

Mutual Bank Leaderboard 2026

Now in its 17th year of publication, the annual self-assessed survey asks mortgage and finance brokers across Australia to evaluate the lender performance of residential mortgage lenders they have built relationships with over the last 12 months.

5. Qudos Bank

Qudos Bank – which merged with Bank Australia at the beginning of the financial year (1 July 2025) – ranked 30th of all 39 lenders, with brokers giving it a score of 73.38 per cent.

For Qudos, products were what brokers most liked (80.16 per cent), particularly product pricing (85.58 per cent). Channel commitment was the only attribute that gleaned a score of 80 per cent this year.

What do brokers like most at Qudos Bank?

Product pricing: Product pricing was its most praised element at 85.58 per cent.
Product suite: Products scored 80.16 per cent overall, with channel commitment hitting 80 per cent.

What are Qudos Bank’s weak spots?

Turnaround times: Rated as its worst-performing attribute at 53.00 per cent.
Upcoming transition: Brand will be mothballed in 2027 as operations transition under the Bank Australia brand.

6. Teachers Mutual Bank

Teachers Mutual Bank received an overall score of 72.99 per cent in the 2026 report, sitting just behind Newcastle Permanent.

Teachers Mutual Bank was rated most highly for its product pricing (82.09 per cent) and channel commitment (78.28 per cent).

What do brokers like most at Teachers Mutual Bank?

Product pricing: Received an 82.09 per cent broker satisfaction rating.
Channel commitment: Channel commitment: Earned an experience score of 78.28 per cent.

What are Teachers Mutual Bank’s weak spots?

Turnaround times: Speed received an experience rating of just 49.81 per cent.

7. Newcastle Permanent

Newcastle Permanent achieved an overall score of 72.74 per cent. Products – particularly pricing – proved to be the shining light of the customer-owned lender’s proposition.

Pricing received the highest broker rating for the bank at 88.58 per cent, with BDM quality the only other attribute to receive a score over 80 per cent (85.04 per cent). However, speed brought down its overall broker experience score.

What do brokers like most at Newcastle Permanent?

Product pricing: Earned the bank’s highest rating at 88.58 per cent.
BDM Quality: BDM quality received a strong score of 85.04 per cent.

What are Newcastle Permanent’s weak spots?

Abysmal speed: Turnaround speed received an experience rating of 23.33 per cent in 2026 (down from 33.33 per cent in 2025), compared to the market average of 73.11 per cent.

8. People First Bank

People First Bank (formerly known as People’s Choice, before fully merging with Heritage Bank to form People First in May) came in second-last place (38th of 39 lenders) with a score of 69 per cent.

Brokers loved People First Bank’s product pricing (receiving a huge broker score of 91.55 per cent) with product range also well received (73.79 per cent).

What do brokers like most at People First Bank?

Product pricing: Received a massive score of 91.55 per cent from brokers.
Product range: Rated favourably at 73.79 per cent.

What are People First Bank’s weak spots?

Turnaround times: Turnaround times were rated at 43.32 per cent, dragging down its overall performance.

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