AFG has today announced an alliance with non-bank lender Brighten Home Loans to fund a white label home loan to join the AFG Home Loans suite of products and enable AFG brokers to deliver more choice to their customers.
Brighten is an Australian-owned and regulated full-service non-bank lender. It offers a comprehensive set of prime and near-prime offerings, with a focus on helping underserved segments of the mortgage market, including the self-employed, alternative-documentation loans, expats, non-residents, as well as customers in need of bridging finance options.
AFG Home and Commercial Loans National Sales Manager Hayden Cush said this new partnership comes at an opportune time as homebuyers look for alternative lending options. “AFG Home Loans has always prided itself on the breadth of products we’re able to offer our brokers and their customers, and by further expanding this product range we’re also expanding the diversity of customers our brokers are able to assist,” he said.
“Brighten has access to some unique funding sources that complement our offering and create more competition in the market. This alliance will provide lending solutions our brokers don’t have access to at the moment, which is exciting,” added Mr Cush.
“Demand for these types of mortgages is strong. As we move on from the restraints put in place in response to COVID, there is growing interest from customers abroad looking for finance in Australia”, Mr Cush said. “We have hit the ground running with the team at Brighten and development is underway. We will aim to launch to our broker network in the first quarter of FY24.” Chris Meaker, Brighten National Sales Manager, said: “We are thrilled to partner with AFG, allowing more brokers to access effective and innovative lending solutions and to help more homebuyers achieve their goal of homeownership within Australia.”
“With a mission to reshape non-bank lending, the team at Brighten pride ourselves on providing superior service to brokers. Our end-to-end proprietary cloud-based technology platform offers quick turnarounds with a 48-hour Service Level Agreement,” Mr Meaker added.
The new partnership with Brighten further complements AFG Home Loans’ existing range, which includes white label arrangements with Bendigo and Adelaide Bank, Thinktank, Pepper Money and Advantedge, as well as home loans funded by AFG’s own securitised products.
“AFG’s purpose is to create a fairer future for all Australians,” said Mr Cush. “By expanding our offering to underserved segments of the mortgage market, we help provide options to homebuyers and drive much-needed competition in the lending market,” he concluded.
