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Home Loan Satisfaction Levels Rise

By Brett Pilgrim

More people are happy with their banks than at any point over the past 18 years, as home loan customers cash in on falling rates.

This is according to the latest data from Roy Morgan Research, which showed the satisfaction level of banks’ personal customers reached 81.3 per cent in November.

This marked a slight rise from 81.2 per cent in the previous month, something the group believes is due to the two reductions to the cash rate in May and August this year.

The number of people looking at property in Adelaide may therefore rise as more homebuyers take advantage of the all-time low cash rate of 2.5 per cent.

Roy Morgan’s industry communications director Norman Morris explained: “The eight interest rate reductions in home loans over the last two years are now having a very positive impact on the satisfaction of home loan customers, and as such are contributing to the improvement in overall satisfaction results.”

He added that with more people choosing to carry out banking transactions online, the satisfaction ratings are likely to be slightly skewed.

Customers who are very satisfied with using the internet have a rating of around 90 per cent, which is higher than the average level of 80 per cent.

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