Get notifications in real-time for staying up to date with content that matters to you.
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.”
Major bank overhauls assessment process
A big four bank has bolstered its assessment team and will priori...
Industry reacts to cash rate decision
The Reserve Bank of Australia has announced its decision to leave...
Ignorance of extended asset write-off a boon for brokers
More than a third of SMEs are unaware of the extended instant ass...
The number one magazine for mortgage brokers
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Receive breaking news direct to your inbox each day
