Australian Finance Group Ltd (ASX: AFG) has successfully priced its largest transaction to date, completing a $700 million AFG 2020-1 Trust Residential Mortgage Backed Securities (RMBS) issue. AFG Chief Executive Officer David Bailey welcomed the successful transaction at a time of dislocation in the market brought about by the COVID-19 pandemic. “The strong support we […]
(ASX:AFG) The AFG Index released today shows the role of broker has never been better illustrated than over the past few months. The dislocation to the economy and the lives of hundreds of thousands of Australian mortgage holders brought about by the COVID-19 pandemic has meant AFG brokers have been a reliable and important avenue […]
AFG has strengthened its broker support team with the appointment Haley Bellamy in New South Wales. Haley joins the Partnership Manager team after working for the Institute of Strategic Management. Prior to that Haley was a highly successful mortgage broker and part of the leadership team at one of AFG’s leading groups, Smartmove. Head of […]
AFG has further enhanced its commercial lender panel with the appointment of asset lender Australian Secure Capital Fund (ASCF) today. Offering fast access to capital ASCF has a suite of private lending first and second mortgage loans together with a unique offering of SMSF and non-resident products. Their short-term loan products can assist business operators […]
If you have been thinking about building a new home or carrying out an extension or renovation, now might be the time to meet with an AFG broker and work through your options. The Federal Government’s new $680 million HomeBuilder program announced on 4 June 2020 makes available $25,000 grants to help build or substantially […]
AFG has expanded its panel with the addition of specialty asset finance lender Australian Motorcycle & Marine Finance (AMMF) to the AFG Business platform. AFG Head of Sales & Distribution Chris Slater announced the addition in a message to brokers this week. “When a client looks to their broker for finance, they are looking for […]
As the COVID-19 crisis began to unfold, AFG’s Learning and Development (L&D) and Events programs switched direction to meet the vital learning and development requirements of the AFG broker network. Supporting brokers with up to date information and ensuring they can maintain their professional development requirements in a virtual world – including attaining CPD points […]
Australian Finance Group is today announcing the addition of a new lender onto the AFG panel. Granite Home Loans will join the panel with a new Self-Managed Super Fund (SMSF) product, making AFG’s one of the broadest residential lender panels in the Australian mortgage market. Head of Sales & Distribution, Chris Slater engaged Granite Home […]
The AFG Index released today shows the Australian lending market is beginning to feel the effects of the uncertainty of the COVID-19 pandemic. AFG CEO David Bailey outlined what the company is witnessing: “In a departure from our usual reporting process, I thought it would be useful to break down the March activity as a […]
AFG has released a COVID-19 Action Plan Calculator to help brokers outline the options available to their customers if their circumstances have changed due to COVID-19. AFG Head of Sales and Distribution Chris Slater explained the development of the tool: “We developed this tool for Brokers to help them have a more informed discussion with […]
As the impacts of the COVID-19 pandemic continue to take hold, AFG has rolled out a digital offering to help brokers overcome some of the challenges disrupting business operations. AFG Head of Sales and Distribution Chris Slater explained the move: “With this ever changing and fast-moving environment the verification of identity (VOI) and ‘knowing your […]
Australia’s home loan market enters 2020 with renewed confidence after new lending figures showed the low interest rate environment combined with changes to benchmark interest rate buffers have helped lock in the recovery in mortgage volumes over the past quarter. The AFG Index released today also revealed the exodus of homebuyers from the big banks […]
AFG is strengthening its sales team with the appointment of David Vizza as State Sales Manager for New South Wales. AFG National Manager Strategic Partners and Recruitment Them Lam announced David’s appointment today: “David has more than 10 years’ experience in the finance industry and we are thrilled to have him on board. “David has […]
The Adviser announced their state-based finalists for the 2020 Better Business Awards. The awards celebrate the top performing brokers around the country and also the aggregator and lender BDMs who partner with their brokers to grow their businesses. Once again, AFG Brokers and AFG BDMs are represented in force amongst the finalists this year. We […]
Australian Finance Group Ltd (AFG) has raised the bar on transparency for the home loan market, unveiling a new standard that summarises crucial mortgage information in a consumer-friendly format for home loan customers. Home loans arranged by authorised credit representatives in AFG’s national network of mortgage brokers now require both the customer and the mortgage […]
AFG has today announced the appointment of Anita Lindsay to the role of Sales Manager for Western Australia. AFG National Manager Strategic Partners and Recruitment, Them Lam, said Anita’s depth of experience in business development will be a valuable asset to the AFG WA team. “Anita joins AFG from NAB and she has a proven […]
Australian Finance Group Ltd (ASX:AFG) has successfully priced its $500 million AFG 2019-2 Trust Residential Mortgage Backed Securities (RMBS) issue after once again receiving strong oversubscription. This is the second RMBS issue this year for AFG. AFG Chief Executive Officer David Bailey welcomed the issue. “Building on the success of the 2019-1 issue earlier this […]
Home loan activity has rebounded strongly in the September quarter, with interest rate cuts and an active property market driving record mortgage volume, according to the AFG Index released today. The Index – acknowledged as a reliable barometer of quarterly home loan activity across Australia – revealed a record $15.7 billion in lodgements in the […]
Australian Finance Group (ASX: AFG) today announced co-founder Kevin Matthews will retire from his position as a Non-Executive Director after more than 25 years with the business. Mr Matthews will leave the AFG board effective Monday 28th October 2019. Mr Matthews founded AFG with Brett McKeon, Malcolm Watkins and the late Brad McGougan in 1994 and […]
After an extensive search, AFG has appointed well known industry figure Damian Percy to the role of General Manager AFG Securities. AFG CEO David Bailey announced the appointment to staff today. “The AFG Securities loan book is now at $2.06 billion and reflecting the importance of this part of our business, we have created a […]
AFG today welcomed the certainty provided for the mortgage broking sector by the Australian Government’s Royal Commission Implementation Roadmap. In setting out details for the way forward for the financial services sector post-Royal Commission, the Government confirmed significant work undertaken to put customers first had mortgage brokers well positioned. The draft National Consumer Credit Protection […]
Australian Finance Group (ASX:AFG) has delivered a solid full-year profit, with its earnings diversification strategy mitigating challenging regulatory and economic conditions. AFG has today delivered an annual underlying profit of $28.56 million up 1.8% for the 12 months to 30 June 2019. For the first time, more than half of AFG’s gross margin was generated […]
Australian Finance Group Ltd (ASX:AFG) has entered into a binding conditional implementation deed to merge with the mortgage aggregation business of Connective Group Pty Ltd. Connective has a network of over 3,600 brokers across five states with a panel of more than 50 lenders. The combined group will create a significant national mortgage distribution network, […]
The first glimpses of recovery are emerging in the Australian mortgage market, with the AFG Index released today revealing an increase in lodgements for the first time in a year. Non-major lenders are driving much of the activity, responsible for a record high 42 per cent of lodgements and for the first time accounting for […]
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 […]
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 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 […]
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 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 […]
Australia’s home loan market is enjoying record levels of competition driven by mortgage brokers, with new lending data released today revealing the market share of non-bank lenders is higher than ever. And latest industry figures reveal consumers are increasingly relying on mortgage brokers for help, with three out of every five mortgages in Australia now […]
AFG today said the ACCC’s Residential Mortgage Price Inquiry report has provided damning evidence of the major banks “synchronising” interest rate increases, underlining the importance of ensuring a competitive home loan market. AFG chief executive officer David Bailey applauded the ACCC’s conclusion that consumer choice and lower interest rates on offer from smaller lenders competing […]
AFG has launched a campaign designed to highlight to Australians and our key policy makers the important role mortgage brokers play in providing competition to the big four lenders. This campaign focuses on the many benefits competition brings in providing choice to borrowers and keeping downward pressure on interest rates. The competitive tension delivered by […]
Last Friday AFG provided our response to the Royal Commission’s Interim Report. We are of the view that the erosion of public confidence in the major banks and their failure to meet community expectations is inextricably linked to the immense market power that they wield. We have told the commission the competitive tension delivered by a viable […]
AFG Mortgage Index figures released today show the country’s lending in a holding pattern with first home buyers the only category of buyer to record an increase for the first quarter of the 2019 financial year. The volume of mortgages processed by AFG declined 2% on the prior quarter. AFG brokers lodged 27,900 mortgages during […]
The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry was released on Friday 28th September. AFG will respond to the Commission’s call for submissions addressing the issues raised about the role of intermediaries. It is important to remember the current Royal Commission was tasked with reviewing misconduct and by its very […]
ASX: AFG has today announced its annual results for the 2018 financial year (FY2018). Strong organic growth has seen AFG deliver profit growth of 10.4% in FY2018. The company reports an annual cash net profit of $33.3 million for the financial year ended 30 June 2018 and announces a final dividend of 5.7 cents per […]
Today, the Mortgage Broking Industry Group* (MBIG) has launched The Value of Mortgage Broking, a report by Deloitte Access Economics. This report demonstrates the value that our industry brings to consumers, lenders and the Australian economy, by driving competition and delivering greater choice and valuable services to the Australians who need them most. The Value […]
Today’s quarterly AFG Mortgage Index figures (ASX:AFG) show it is ‘business as usual’ as a vibrant mortgage broking industry delivering choice and competition to the market continues to be embraced by Australian consumers. Total mortgage lodgement numbers for the last quarter were up on the prior quarter to finish the 2018 financial year at 28,896. […]
The AFG Competition Index released today shows further evidence of a structural shift in the Australian lending market as non-major lenders again seize market share from the majors. Non-major lenders have seen their overall market share of new loans hit a record 40.97% in May 2018. AFG General Manager – Broker & Residential, Mark Hewitt […]
Australian Finance Group Limited (ASX: AFG) is pleased to announce that it has entered into a binding agreement to make a strategic investment of 30.4% (fully diluted) of Think Tank Group Pty Ltd (“Thinktank”) for $10.9 million in cash consideration. In connection with the investment, AFG will distribute a white label Commercial Property product through […]
The release today of the AFG Mortgage Index (ASX:AFG) highlights that the ongoing regulatory intervention into the sector is potentially stifling growth in mortgage applications. Further growth in non-major market share reinforces an increasing appetite for these lenders and highlights the vital role mortgage brokers play in enabling these lenders to compete. AFG Chief Executive […]
The release today of the AFG Competition Index shows the flow of business to lenders has once again been volatile, highlighting evidence that mortgage brokers are the only ones equipped to provide Australian borrowers with a complete picture of the many lending options available to them. AFG General Manager Broker & Residential, Mark Hewitt explained […]
I would like to share with you AFG’s response to the Productivity Commission’s Draft Report on Competition in the Australian Financial System. As you are aware we have been engaging with the Productivity Commission over and above the submission process and they have asked AFG to collate some real examples of the work you do […]
Monthly BBQs at Perth’s Ruah Centre As part of our ongoing commitment to give back to the community, AFG engage in numerous volunteering and charity work throughout the year. From Christmas gift donations through the Kmart wishing tree initiative, and providing female hygiene products and everyday essentials for homeless women via the #itsinthebag campaign, to […]
AFG (ASX: AFG) has today released the AFG Mortgage Index figures for the final quarter of 2017. As the year drew to a close, Victoria stands out as the state to watch with an increase in average loan size over the past 12 months nearly double the size of the increase in New South Wales. […]
AFG has today released Competition index figures for the final quarter of 2017. Once again, Australia’s major lenders have taken a hit with their market share now down to a post-GFC low of 62.57% of the mortgage market. The majors lost ground in all categories since the time of the last AFG Competition Index, including […]
AFG (ASX: AFG) has today called on the banking Royal Commission to recognise the significant inquiries that have already been conducted into the mortgage broking sector and the important role mortgage brokers play in the Australian lending market, as the government outlines the inclusion of mortgage brokers in the scope of the banking Royal Commission. […]
2017 has been an impressive year for so many of our 2850 brokers around the country, and for the industry more broadly. With broker market share now widely reported at around 55% there are many reasons to celebrate and also many ways to capitalise to ensure our continued growth. Looking forward to next year, we […]
Australian Finance Group (ASX:AFG) is pleased to announce the appointment of Lifebroker to AFG’s life insurance referral program. The new arrangement will make it easier for AFG’s 2850 brokers to offer life insurance referrals to clients, providing them with a wide choice of options for their needs from Lifebroker’s range of comprehensive life insurance products. […]
AFG’s latest Mortgage Index results released today shows that major structural change in the Australian lending landscape is continuing. “Today’s results paint a very different picture from this time last year,” said AFG CEO David Bailey. “Regulator-led tightening of investor lending has led to a further drop in investor volume and they are now sitting […]
In a sign of renewed commitment to the broker channel, major lenders have taken back control from the non-majors with a lift in market share across the last month according to the latest AFG Competition Index. After a low of 63.39% in June 2017, the majors have risen each month to round out the quarter […]
Australian Finance Group (ASX:AFG) has today priced its AFG 2017-1 Trust Residential Mortgage Backed Securities (RMBS) issue. AFG Chief Executive Officer David Bailey said this latest transaction is the largest term deal AFG has undertaken. The securitisation program is an important contributor to the company’s overall growth strategy. We are delighted to see the success […]
Australian Finance Group (ASX: AFG) today reports a net profit after tax (NPAT) of $30.2 million for the 2017 financial year (FY2017). This excludes the impact of the recognition of AFG Home Loans (AFGHL) white label settlements relating to prior years (normalised NPAT). This is slightly ahead of the result forecast in our profit upgrade […]
We are searching for a strategic thinker, experienced in driving businesses to achieve their objectives, to join our innovative, entrepreneurial and collaborative business. AFG is a publicly listed financial services business with over 2,850 mortgage brokers and over 45 lenders on our panel. Our business thrives on the development and activation of new technologies enhancing […]
Non-majors and fixed rates in favour Australian Finance Group (ASX: AFG) has today released the AFG Mortgage Index for the final quarter of the 2016/17 financial year. AFG CEO David Bailey welcomed the news that the non-major share of the market is now at 35%. “Significant structural change to the lending market brought about by […]
Non-majors step up Data out today would suggest Australians are testing the competitiveness of the lending market with AFG data showing the non-major lenders picking up nearly 35% of the market, according to the latest AFG Competition Index. AFG General Manager of Sales and Operations, Mark Hewitt said the data reaffirms the value the mortgage […]
The Board of Australian Finance Group (ASX:AFG) is pleased to announce that Mr David Bailey, AFG’s current Interim CEO, has today been appointed as the Company’s Chief Executive Officer. In announcing the appointment, AFG Chairman Tony Gill commented that following a review of the market it was clear that David, who has been acting in […]
AFG has today asked the regulator to keep a watchful eye on the big banks to ensure they do not use the Government’s recently announced major bank levy and their own Australian Bankers’ Association (ABA) Retail Banking Remuneration Review as a justification to implement changes designed to reduce the financial viability of providing broking services […]
First home buyers step up AFG (ASX: AFG) has today reported promising signs in the first home buyer (FHB) market as the 17 year old scheme, introduced to offset the effect of the GST on home ownership, receives a shake up. The national First Home Owner Grant (FHOG) scheme funded by the states and territories […]
The world of finance may have traditionally been thought of as a male-dominated industry, but that has clearly been changing in the past few years. A clear example of this is our South Australian team; a small team of three, and an all-female team. An all-female team not by design, but a team that has […]
Major lenders slide Australia’s major lenders have again taken a hit as the non-majors continue to appeal to those seeking to finance a home. The latest AFG (ASX:AFG) Competition Index shows the majors’ share of the market dropped again to 65.25% to continue the trend of the last six months. The recent political spotlight on […]
Australian Finance Group (ASX: AFG) today announced that after more than 23 years with AFG, CEO and Managing Director Brett McKeon will step back from his full-time executive role. Mr McKeon will remain on the AFG board as an executive director with a focus on advocacy and support of AFG’s broker network and their customers […]
Tale of two seaboards AFG (ASX: AFG) has today released the AFG Mortgage Index for the final quarter of the calendar year 2016. The data shows year on year growth in lodgement volume for the company of 9.9%. AFG Chief Operating Officer David Bailey explained the results. “2016 saw the eastern seaboard lead the way […]
Refinancers flock to non-majors AFG (ASX: AFG) today reported a jump in the number of Australian mortgage holders looking to leave the country’s major lenders. Following on from the previous quarter, consumers refinancing their home loans have again turned their backs on the major lenders in their search for savings, according to the latest AFG […]
Australian Finance Group (ASX:AFG) has today priced its AFG 2016-1 Trust Residential Mortgage Backed Securities (RMBS) issue. AFG Chief Operating Officer David Bailey said the securitisation program is an important contributor to the company’s overall growth strategy. “To execute a transaction under the terms achieved, in a market which has been relatively volatile in 2016 […]
Loans lift as new financial year gets underway Australian Finance Group (ASX: AFG) has today released its Mortgage Index for the first quarter of financial year 2017. AFG’s overall loan lodgement volume recorded a lift of 8% from the first quarter of the 2016 financial year to be sitting at a record $15.19 billion. AFG […]
Refinancers shop around Australians refinancing their home loans have turned to the non-majors in the past three months in their search for savings, according to the latest AFG Competition Index. AFG General Manager of Sales and Operations, Mark Hewitt explained the shift. “The non-majors have increased their share of the refinancing market from 31% to […]
Further evidencing its push into the commercial broking market, AFG (ASX: AFG) today announced the expansion of its management team with the appointment of the well credentialed industry figure Keiran Evans to the newly created role of General Manager Commercial. Mr Evans joins AFG from ANZ where he was most recently head of third party […]
Australian Finance Group (ASX: AFG) reports a net profit after tax (NPAT) of $22.6 million for the 2016 financial year (FY2016), approximately 15.1% ahead of Prospectus forecast of $19.7 million and an increase of 48% compared with $15.3 million from continuing operations in FY2015. Increased profit was underpinned by increased sales of AFG branded products, […]
