Website Notifications

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

Major aggregator smashes volume record

leading   fw leading   fw
Staff reporter 4 minute read

AFG recorded its highest-ever volume of investor home loans in March, driven by strong demand from NSW borrowers.

The latest AFG Mortgage Index shows the aggregator processed $5.2 billion in mortgages last month – the largest volume in any single month for the company in its 21 years in business.

Loans for property investment hit a new record high of 41.7 per cent, driven especially by strong activity in NSW, where investors accounted for 52.9 per cent of all mortgages processed.

This investor loan figure compares with 37.7 per cent in South Australia, 36.7 per cent in Victoria, 33.6 per cent in Western Australia and 33.3 per cent in Queensland.


“What happened in March is really the story of Sydney and Melbourne,” AFG's general manager of sales and operations, Mark Hewitt, said.

“Volumes in other cities were strong but unspectacular.

“The combination of rate expectations, with a traditionally buoyant month for property sales, made March a stand-out month," he said

Fixed-rate loans comprised 14.2 per cent of the mortgage mix, with 68.8 per cent of borrowers opting for standard variable loans.

LVRs remained steady at 67 per cent nationally, relatively lower in NSW (64 per cent) than in Victoria and WA (71 per cent in both cases) on account of the typically higher levels of equity provided by investors seeking loans.


[Related: AFG appoints boss for home loans division]

Major aggregator smashes volume record
leading   fw
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Work smarter, not harder, in 2022 and beyond, visit the website here to secure your ticket.

leading   fw


more from the adviser
YBR home loans 850x380 ta

Breaking News

YBR Home Loans flags digital pivot, broker expansion

The major brokerage has launched a digital mortgage broking busin...

stressed woman ta

Breaking News

‘Perfect storm’ of trouble ahead for SMEs

An SME lending company has warned that many retail and supplier b...


Breaking News

Wisr hits high for new loans

The ASX-listed personal lender wrote $132 million in new loans du...