Australian Finance Group completes $700 million RMBS issue

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 […]

AFG expands commercial lender panel

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 […]

HomeBuilder Program

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 training and events pivot during COVID-19

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 […]

Record month to close the quarter as major lenders put their foot down

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 transitions to digital solution to support brokers and their clients

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 […]

Low interest rates and property market recovery drive renewed home loan activity

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 enhances home loan transparency

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 […]

Australian Finance Group prices $500 million RMBS issue

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 […]

Low interest rates and property market recovery drive record home loan activity

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 […]

AFG welcomes regulatory clarity

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 […]

AFG’s diversification strategy drives resilient FY19 performance

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 […]

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 […]

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 […]

More competition than ever in Australia’s home loan market thanks to mortgage brokers

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 […]

ACCC warning echoes AFG’s call for competitive market

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 […]

Keep Competition Alive

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 […]

AFG response to the Interim Report of the Royal Commission into Misconduct in the Banking, Superannuation and the Financial Services Industry

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 […]

Release of Royal Commission interim report

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 […]

AFG annual results FY2018

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 […]

The Value of Mortgage Broking – Deloitte Access Economics report

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 […]

Competition vital for all mortgage holders. Mortgage Index – April 2018

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 […]

Mortgage brokers shopping around for their clients. Competition Index – March 2018

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 […]

What’s happening at AFG?

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 […]

Majors lose focus as all eyes on Canberra. Competition Index – December 2017

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 […]

Mortgage brokers in the mix

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. […]

AFG announces new referral arrangement with Lifebroker

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. […]

Regulator activity begins to bite: Mortgage Index – October 2017

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 […]

AFG successfully completes $350 million RMBS issue

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 […]

Are you our next CIO?

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 […]

AFG asks ACCC to keep an eye on banks

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 […]

AFG successfully completes $300m RMBS issue

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 […]

Australian Finance Group Financial Results for FY2016

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, […]