Bank Australia has partnered with mortgage aggregation group AFG to provide home loans through brokers.
The partnership with AFG is Bank Australia’s first entry into the broker market. The bank will start with a group of AFG-affiliated brokers in Victoria this month before expanding to other states.
John Yardley, chief operating officer of Bank Australia (formerly known as Bankmecu), said the bank wants to be the preferred choice for brokers looking to offer their customers a competitive alternative to the major banks.
“AFG prides itself on providing its broker network with a range of options to help them be competitive and provide a high quality service to their customers, and this aligns closely with our aim to be a genuine alternative for people looking for sharp pricing and quality service,” he said.
“We have chosen to enter this market through a relationship with AFG and their network of brokers because of their strong understanding of our approach and their willingness to work with us to put in place the ingredients needed to ensure we can deliver a high level of service to their brokers.
“Our entry into this market is part of the bank’s strategy to continue its strong growth by accessing people who are seeking the advice of brokers in finding a home loan and who would not have had the choice of considering Bank Australia products without this relationship.”
AFG’s state manager for Victoria and Tasmania, Carl Taylor, said there has been strong demand from the aggregator’s brokers to add Bank Australia to its panel.
“Giving them access to Bank Australia products is part of our commitment to broaden customer choice in this increasingly complex market,” he said.