Commercial lending: the basics
If there was ever a time for residential mortgage brokers to add a commercial arm to their business, it’s now. As traditional and non-bank lenders battle for shares of the $347 billion business loan market, the proverbial doors have opened for brokers that can offer business customers a range of lender options, structured deals and […]
3 key reasons to expand into commercial lending
In this blog we look at three key reasons why expanding into commercial broking makes good business sense. Reason 1: To create a consistent income stream Diversifying into commercial lending is a natural hedge to ensure a consistent stream of income during flat periods in residential lending. Reason 2: To fulfil a need in the […]
Getting started with commercial lending in six easy steps
Becoming an experienced commercial broker doesn’t happen overnight. Like entering any new market, it takes time, patience and ambition to succeed. But it is possible to manage alongside the needs of your residential business – provided you have a strong plan, the right information and tools, and the right partners. If you were to break […]
HY22 AFG reports strong growth and continued earnings diversification
AFG (ASX:AFG) today announces a stellar start to the 2022 financial year, recording 20 per cent NPAT growth for the half, further emphasising the success of the company’s ongoing diversification strategy across business lines and asset classes. The result follows a record financial performance in FY21 with 35 per cent growth in NPAT over FY20. […]
What do the top referral partners look for?
Above all, they want to know how a broker will complement their business. While some referral partners – for example Agri Consultants – may require specific expertise, generally referral partners are looking for: A trusted partner: If a partner is handing over their client, they need to trust you will treat them well and get […]
Building a referral network
People are the core ingredient in any successful referral network. Start your referral relationships the right way The ability to find potential referrers, establish trust, demonstrate your value and nurture relationships over long periods are other critical factors. Fortunately, technology has created more ways to find and connect with potential referrers than ever before – […]
Do you need a referral network?
If you want a long and successful career as a mortgage broker, one important step is to build a referral network. What is a referral network? A referral network is a group of individuals or organisations in related industries working together to promote one another’s skills and businesses. A mortgage broker, for example, might build […]
First RBA meeting of the year leaves February cash rate unchanged at 0.10%
The Reserve Bank today confirmed the official cash rate will remain at 0.10% for the foreseeable future. Rising inflation and falling unemployment led to speculation in the lead up to the meeting that the RBA would be forced to reassess its 2024 forecast for the next rate rise. With future rate rises linked to wages […]
Brokers in demand
AFG (ASX:AFG) brokers finished the 2021 calendar year on a high, with record volumes revealing residential lodgements were up 24% on the same period last year. AFG CEO David Bailey said the company lodged $24.6 billion for the three months to December 2021. “AFG brokers have navigated the challenges presented by the latest wave of […]
December cash rate remains unchanged at 0.10%
At its board meeting today the RBA confirmed the official cash rate would remain at 0.10%. This was no surprise given that at its last meeting the bank confirmed that to consider an increase it would need to see underlying inflation between 2% and 3% on a sustainable basis, full employment and materially higher wages […]