Three in five finance and mortgage brokers, or 60%, have faced delays in loan processing over the past six months, a recent poll commissioned by the Finance Brokers Association of Australia (FBAA) has found.

The brokers association called the situation unacceptable, with FBAA managing director Peter White (pictured above) saying that while delays were not surprising, the lack of responsiveness from lenders was still frustrating.

The survey, conducted by global market research consultancy CoreData, also revealed that 45% of brokers cited poor communication from lenders as a major issue, while 39% reported technical issues with lender systems.