AFG reshapes executive team
Australian Finance Group has reshaped its executive team in preparation for the heightened industry and regulatory engagement required in the post-Royal Commission environment. Reflecting AFG’s increasingly diversified earnings base, the management changes also consolidate executive accountability for all residential mortgage product sales and elevate the leadership role for the growing AFG Securities (AFGS) business. Under […]
Kitchen renos – All you knead to know to add dough to the value of your house
When it comes to buying a house, the kitchen is one of the most important features home buyers take into consideration. If your kitchen is more drab than fab, it’s time for a spruce up. Too often when we talk about renovations it can seem overwhelming – too costly, too hard, too time consuming. But […]
Official RBA cash rate decreased
With the uncertainty of the federal election behind it, the RBA has decided to reduce the official cash rate to 1.25% as it tries to stimulate household spending and the economy. This is the first rate move since August 2016 and I’d like to share some thoughts on why the Reserve Bank of Australia has […]
Cash rate remains unchanged at 1.5% for the 29th consecutive time
The RBA has decided to leave the official cash rate unchanged at 1.5% for the 29th consecutive time and we’d like to share some thoughts on why the Reserve Bank of Australia has made this decision. Only twice before has the RBA elected to drop rates during an election campaign and on both those occasions […]
The great Australian dream
Is the Great Australian Dream to own your own home over? That’s the question on the lips of Millennials around Australia… and indeed many of their parents who are still providing a roof over the head of these 20-plus somethings. Owning your own home used to be considered a rite of passage. Finally, you’ve left […]
Home loan activity falls to lowest in five years on back of credit squeeze
Fresh evidence of the fragile state of Australia’s home loan market emerged today, with new figures revealing national lending activity has slumped to the lowest levels in five years. The AFG Mortgage Index and Competition Index released today showed lending volumes across Australia in the first three months of 2019 dropped 10 per cent on […]
Australian Finance Group prices $500 million RMBS issue
Australian Finance Group Ltd (ASX:AFG) has successfully priced its $500 million AFG 2019-1 Trust Residential Mortgage Backed Securities (RMBS) issue after receiving strong oversubscription. On the back of the strong demand across the transaction, AFG upsized the deal from $350 million to $500 million. The 2019-1 issue represents AFG’s largest RMBS transaction since its first […]
David Bailey speaks at Parliament House Forum in Canberra
Today industry, government and consumers came together at Parliament House for a forum discussion about issues affecting the housing industry, including changes to broker remuneration and the ALP’s proposed changes to negative gearing and capital gains tax. I was invited by Senator Zed Seselja, Assistant Minister for Treasury and Finance, to be part of a […]
AFG and iSelect announce joint operation
AFG is expanding its current partnership with iSelect and has entered into a joint operation agreement with iSelect to help them provide an improved customer experience and to further enhance the provision of a digital home loan service to Australian borrowers. The joint operation will commence on 1 April. AFG has not acquired a financial […]
Federal Government recognises vital role mortgage brokers play in delivering competition
Australian Finance Group Ltd (ASX:AFG) said the Federal Government’s announcement on trail commissions today confirmed the vital role mortgage brokers play in generating competition in the home loan market. In response to the Banking Royal Commission recommendations, Treasurer Josh Frydenberg said the Government had decided not to prohibit trail commissions on new loans and opted […]