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 […]

Mortgage Index – June 2018 – The new normal

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. […]

Australian Finance Group acquires strategic interest in Thinktank

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 […]

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 […]

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 […]

AFG announces strategic alliance to expand small business financing in Australia with FinTech provider Biz2Credit

Australian Finance Group (ASX: AFG), one of Australia’s largest providers of mortgage broking services, today announced its strategic alliance with Biz2Credit Inc. (Biz2Credit), a leading international Financial Technology (FinTech) company. The exclusive agreement will enable AFG brokers to deliver an innovative lending experience for small businesses in Australia. AFG will leverage Biz2Credit’s patented analytics and […]

My Broker My Choice

With the current broker remuneration review underway, AFG has created a website, MyBrokerMyChoice to gather feedback to help inform the current debate and to spread the word on the importance of the sector to consumers. AFG is now opening it up to the rest of the industry and we will be collating a petition and […]

AFG delivers positive first half operating results

AFG (ASX: AFG) has today announced its financial results for the first six months of FY2016. Today’s results show the company’s continued strength and capacity to deliver solid profit results through increased settlements, improved securitisation margins and growth in the company’s own-branded products. AFG has reported a 2016 half year net profit after tax (NPAT) […]

Appointment of Malcolm Watkins to MFAA Board

The Mortgage & Finance Association of Australia (MFAA) announces the appointment of Malcolm Watkins as an Additional Director to the MFAA Board. This appointment will commence in November 2015. The Mortgage & Finance Association of Australia (MFAA) announces the appointment of Malcolm Watkins as an Additional Director to the MFAA Board. This appointment will commence in November […]

AFG expands white label suite

Leading mortgage broker AFG (ASX:AFG) today announced it has secured a new white label agreement with Macquarie Bank. AFG Managing Director Brett McKeon said the agreement will see a new product range, AFG Home Loans ICON, added to AFG’s existing white label offering. “AFG has been working solidly for the past 18 months to bolster […]

Queensland Police Credit Union partners with Australia’s largest mortgage broker group

QUEENSLAND POLICE CREDIT UNION LIMITED (QPCU) HAS ANNOUNCED IT WILL BE PARTNERING WITH AUSTRALIAN FINANCE GROUP (AFG), BECOMING ONE OF THE ONLY QUEENSLAND BASED MUTUALS ON ITS PANEL. QPCU Sales and Distribution Executive Manager Lee Slattery said he saw AFG and its brokers as key partners that will be essential to providing QPCU’s lending products […]

Ex-AFL legend now a star on a new playing field

A household name when it comes to football, premiership winning player and former Port Adelaide club captain Dom Cassisi is now creating a name for himself as the rising star in the finance industry, helping householders across South Australia find the right finance. At AFG’s High Achievers Gala Dinner on Saturday night Dom took out the […]

AFG adds Prospa to its business lending panel

Australia’s largest mortgage broker, Australian Finance Group (AFG), has added Australia’s largest online business lender Prospa to its lending panel. AFG Managing Director Brett McKeon said the company will promote Prospa’s small business loans through its 2,300-strong broker network. Mr McKeon said the agreement with Prospa continues AFG’s commitment to ensuring its member brokers have […]

AFG congratulates departing director John Atkins

The AFG (ASX:AFG) board today congratulated long-standing non-executive director John Atkins on his appointment to the role of Western Australia’s Agent General, based in London. Mr Atkins proposes to resign from the AFG board effective 31 August 2015 to take on his new role. AFG Chairman Tony Gill praised Mr Atkins’ contribution to the organization. […]