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AFM appoints new head of mortgage distribution

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Reporter 2 minute read

The mortgage manager has announced that it has appointed a former Future Financial and Better Choice Home Loans chief operations officer as its new head of mortgage distribution.

Troy McLachlan, who was COO at Better Choice Home Loans and Future Financial for 10 months over 2016–17 and left the brands in September 2017 to become COO at Generation Financial Group (formerly known as Generation Mortgage & Property), has now been appointed as head of mortgage distribution at Australian First Mortgage (AFM).

AFM has not had a head of broker channel recently, after its director of mortgages and distribution, Trayce Grippo, left for maternity leave. Its former head of broker sales, Natasha Neary, exited the company in March to become director of the Financial Wellbeing Group.

AFM CEO Steve Dover said that the brand had been on a “carefully constructed yet aggressive growth path” and was hoping to capitalise on the increasing opportunities afforded by the ongoing changes in the lending sector.

“AFM has maintained its high levels of service through the recruitment of skilled, industry-savvy professionals and Troy is a welcome addition,” Mr Dover said.

“Troy brings a wealth of knowledge and enthusiasm to AFM, with his extensive background in the financial services industry. Over and above heading up groups such as Better Choice, he has a broad range of experience holding various positions for a mortgage insurer and legal firm.”

Mr Dover continued: “We are currently in a growth phase of the business, so Troy’s appointment has been timely as there are a number of opportunities in mortgage distribution which still remain very attractive.”

Speaking of his new role, Mr McLachlan revealed that his initial focus would be on broadening AFM’s product offering and further strengthening relationships with its aggregation partners and brokers.

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“Near-prime, self-employed and specialist lending are key areas that I will be focusing on over the coming months,” the new head of mortgage distribution said.

“Self-employed borrowers can face significant challenges securing a mortgage, and with the rising number of Australians becoming self-employed, we understand that lenders need to adapt to meet their needs.

“My plans also include the introduction of new funding lines and leveraging existing long-term relationships. It’s all about helping our brokers convert more loans, more regularly. If their business is successful, then so is ours.”

AFM holds delegated lending authorities of up to $2 million with its funders, which include Australian banks and wholesale lending institutions such as Bendigo and Adelaide Bank, Advantedge Financial Services, RESIMAC and Pepper Money.

[Related: Mortgage lender appoints new COO]

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