RateSetter has joined the panel of aggregation company AFG, giving brokers access to its personal loan and car finance offerings from 22 July.
From Monday, 22 July, AFG’s 2,900 broker members will have access to the peer-to-peer lender’s product suite, which offers personal loans and secured automotive loans.
RateSetter’s risk-based pricing personal loans start from 5.49 per cent and range from $2,001 to $45,000 for terms between six months and five years.
In light of the announcement, AFG general manager of commercial Keiran Evans commented: “The addition of RateSetter to the AFG Personal Loan panel further strengthens our proposition and enables our national broker network to offer more choice to their customers.
“As the lending landscape faces structural change, personal loans are becoming a more integral component of customer solutions,” Mr Evans said.
“AFG is committed to providing our brokers with options to meet their customers’ needs. RateSetter is an innovative lender and will enable our network of brokers to provide their customers with access to a range of competitive personal loan options,” he said.
RateSetter CEO Daniel Foggo also welcomed the partnership, stating: “We are so pleased leading aggregator AFG has recognised the vital importance of diversification and is helping its brokers diversify their income by adding new lenders and new loan offerings.
“Brokers can assist their clients well beyond their mortgage, supporting them through a life cycle of needs, from holidays to home renovations, to car purchases and more. These are powerful opportunities that brokers need to take advantage of, and we are delighted to be able to deliver AFG brokers some seriously attractive options.”
Mr Foggo concluded: “The broker channel is integral to our current operations and we are excited by this opportunity to expand our presence in the broker industry.”
The P2P lender has been expanding its reach into the third-party channel recently, after having partnered with Choice Aggregation Services last month.
Hannah Dowling is a journalist for The Adviser and Mortgage Business.
Prior to joining Momentum Media, Hannah worked as a content producer for a podcast catering to property investors. She also spent six years working in the real estate sector at a local agency.
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