Highlighting its commitment to driving competition in the mortgage space, AFG has relaunched its own securitisation business.
The new business, AFG Securities, will enable the aggregator to competitively fund its growing wholesale mortgage business and distribute home loan products to AFG brokers.
In order to fund its wholesale mortgage business, the aggregator secured a warehouse facility with National Australia Bank.
AFG managing director Brett McKeon said the provision of this facility will help AFG members drive further competition in the lending market.
“The only way to drive competition in the Australian market is to ensure that consumers have multiple home loan options from a diverse range of mortgage funders,” Mr McKeon said.
“AFG has been calling for support for the non-major bank lenders for some time and whilst market conditions are still tight, we believe the time is right for AFG to open up a new line of funding for our members.
AFG Securities will be added to the aggregator’s full suite of lenders.
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