Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

New AFM commission structure revealed

Staff Reporter 1 minute read

Australian First Mortgage (AFM) yesterday announced a new initiative to offer brokers a choice on how their commissions are paid.

As part of the new structure brokers can choose a 0.71 per cent upfront, GST included, and 0.15 per cent trail. Alternatively they can take an upfront only commission of 1.1 per cent (GST inclusive).

The offer applies to AFM’s Complete Option Special product, which includes a standard variable rate of 5.29 per cent and no ongoing fees, or a 5.19 per cent pro pack with an annual fee.

Iain Forbes, AFM director of sales and marketing, said the flexible commission structure highlighted AFM’s ongoing support of the broker network.

“We are continuing to develop new products and trying to remain as competitive as we can by giving brokers a viable alternative to the major banks.

“We can also provide a conditional approval within 24 hours.”

COMMENT HERE

 

New AFM commission structure revealed
default
TheAdviser logo
default

 

more from the adviser
regulation rules AFCA amends complaints rules following court case

The financial services ombudsman has changed its rules after the ...

meeting top view ta 62c1 Half of home owners wary of bank refinance advice

One in two borrowers does not believe banks always have their bes...

house sold Hot Property: The biggest property headlines from the week 18-22 January

Here’s the weekly round-up of the biggest news stories from acr...

FROM THE WEB