As expected, the Reserve Bank of Australia kept the cash rate at 0.25% at its meeting today as the country continues to deal with the COVID-19 pandemic. The RBA, conscious of reductions in consumer spending, further falls in house prices and the flow on economic impact of stage four restrictions in Victoria, has consistently stated […]
Congratulations, and best of luck to all our National finalists for the 2020 MFAA Excellence Awards. To be recognised as a finalist speaks volumes of your exceptional practice and professionalism in the mortgage and finance industry. Finalists Nick Smith (Red10 Finance) – Commercial Finance Broker Award Rise High Financial Solutions – Customer Service Award – Business Rise High […]
The RBA has announced that the cash rate will remain unchanged for July with the rate remaining at 0.25%. The RBA is mindful of rising concerns around unemployment post-JobKeeper, falls in housing and home loan approvals, decreasing property values and decreasing credit growth. The RBA maintains the stance that negative interest rates are not the […]
The cash rate decision for June has been announced by the RBA with the rate unchanged at 0.25%. The Bank withstood calls for further reductions, with some commentators suggesting negative interest rates remain a future possibility. Whilst the RBA will be mindful of concerns around the rising value of the Australian dollar and its impact […]
The cash rate decision for May has been announced by the RBA with the rate unchanged at 0.25%. The Bank has previously signaled it considers the current rate to be the floor, with many analysts predicting it will remain at this level for some time as the economy recovers from the impacts of COVID-19. If […]
Originally published on labs.afgonline.com.au on April 7, 2020 As a mortgage broker, you know how to take simple precautions to protect your business against crime when you’re not in the office. All you have to do is make sure the windows are latched, the doors are locked, the alarm is on and the insurance is up to date. But what about protecting your business against […]
Originally published on labs.afgonline.com.au on March 6, 2020 Like everyone in Australia, at AFG we were shocked and saddened by the devastating bushfires that burned across the country over the summer months. Whilst the fires are now finally out, there are many communities that face a long and challenging journey of rebuilding their homes and […]
The MFAA Excellence Awards are presented to members of the association who display exceptional practice in mortgage and finance. The awards encourage members of the industry to constantly improve and strive for excellence. To be recognised as a finalist speaks volumes of their exceptional practice and professionalism in the mortgage and finance industry. Congratulations and best of […]
The cash rate decision for April has been announced by the RBA with the rate unchanged at 0.25%. Just 19 days ago the RBA announced a .25% emergency cut in response to the economic threat posed by the COVID-19 crisis, reducing the rate to its lowest ever level. In response many lenders reduced fixed rates […]
Today, the RBA announced an out-of-cycle emergency rate cut to help the Australian economy withstand the impact of COVID-19. The RBA has reduced the cash rate to a new record low of 0.25%. If the COVID-19 crisis is affecting your financial situation, please get in touch with an AFG broker to formulate a plan to […]
As of the February 21 2020, the ATO will disclose tax debts over $100,000 that are overdue by more than 90 days to Credit Reporting Bureaus (CRB). Business owners historically have used the ATO as a “bank” by not paying their tax commitments on time, rather than utilise their own capital or commercial working capital […]
The cash rate decision for March has been announced by the RBA with a rate cut. The RBA has reduced the cash rate to a new record low of 0.50% in response to the economic threat posed by the coronavirus outbreak and bushfire crisis. Whilst the Reserve Bank would have been encouraged by recent economic […]
The first cash rate decision for 2020 has been announced by the RBA with the rate unchanged at 0.75%, as it assesses the economic threat posed by the bushfire crisis and the coronavirus outbreak. The Reserve Bank will have been encouraged by positive employment, inflation and house price figures and will be hoping these threats […]
AFG is strengthening its sales team with the appointment of David Vizza as State Sales Manager for New South Wales. AFG National Manager Strategic Partners and Recruitment Them Lam announced David’s appointment today: “David has more than 10 years’ experience in the finance industry and we are thrilled to have him on board. “David has […]
The Adviser announced their state-based finalists for the 2020 Better Business Awards. The awards celebrate the top performing brokers around the country and also the aggregator and lender BDMs who partner with their brokers to grow their businesses. Once again, AFG Brokers and AFG BDMs are represented in force amongst the finalists this year. We […]
Australian Finance Group Ltd (AFG) has raised the bar on transparency for the home loan market, unveiling a new standard that summarises crucial mortgage information in a consumer-friendly format for home loan customers. Home loans arranged by authorised credit representatives in AFG’s national network of mortgage brokers now require both the customer and the mortgage […]
The Reserve Bank of Australia (RBA) has delivered its final cash rate announcement for the year with the decision to leave the rate unchanged at 0.75%. In making the decision the RBA appears to be assessing the impact on the broader economy of the three previous cash rate reductions together with recent tax cuts, government […]
The RBA has decided to leave the official cash rate unchanged at 0.75% as it assesses the impact of its June, July and October cuts. In making this decision not to drop rates again, the RBA will have considered strong evidence of an improving housing market, supported by rising house prices in most capital cities […]
That’s a wrap for another successful year as over 850 delegates gathered in Melbourne last week at AFG Next 2019. Over two days, AFG brokers, lenders partners and AFG staff had a chance to explore, examine and understand what the future of the Australian broking industry holds. Opening proceedings was AFG CEO, David Bailey, with […]
Home loan activity has rebounded strongly in the September quarter, with interest rate cuts and an active property market driving record mortgage volume, according to the AFG Index released today. The Index – acknowledged as a reliable barometer of quarterly home loan activity across Australia – revealed a record $15.7 billion in lodgements in the […]
For the 3rd time in five months the Reserve Bank of Australia has decided to reduce the official cash rate, this time to 0.75%, in a concentrated effort to boost the economy. In making the decision to lower rates again the RBA has strongly reinforced its focus on supporting employment growth and boosting household consumption […]
The RBA has decided to leave the official cash rate unchanged at 1% as it continues to assess the impact of its June and July cuts. In making this decision not to drop rates again the RBA will have considered emerging evidence of an improving housing market, supported by strong auction clearance rates in Sydney […]
The prestigious AFG Academy has wrapped up for 2019, delivering a 3-day once in a lifetime opportunity for over 70 AFG brokers. Run by current and former Harvard professors, David Collis and Walter Kuemmerle, AFG Academy offers our brokers an opportunity to build strategic and practical skills across market, competition and business development. Condensing a […]
We’ve wrapped up an amazing series of AFG Masterclasses for 2019! Covering five states AFG Masterclass 2019 delivered a range of presentations and keynotes designed to help AFG brokers prepare their businesses for the future. The AFG team delivered a range of updates covering the political landscape, compliance and regulation, residential finance, business finance, industry […]
Thank you to everyone who attended the SA Awards function! Congratulations to all our award finalists and winners in each category for 2019. Well done on all your hard work, and we look forward to another successful year together. See below for full coverage of finalists and winners from the event! SA Broker Group […]
Australian Finance Group Ltd (ASX:AFG) has entered into a binding conditional implementation deed to merge with the mortgage aggregation business of Connective Group Pty Ltd. Connective has a network of over 3,600 brokers across five states with a panel of more than 50 lenders. The combined group will create a significant national mortgage distribution network, […]
Thank you to everyone who attended the Queensland Broker Excellence Awards function! Congratulations to all our award finalists and winners in each category for 2019. Well done on all your hard work, and we look forward to another successful year together. See below for full coverage of finalists, winners and photos from the event! […]
Thank you to everyone who attended the WA Broker Excellence Awards function! Congratulations to all our award finalists and winners in each category for 2019. Well done on all your hard work, and we look forward to another successful year together. See below for full coverage of finalists, winners and photos from the event! […]
Thank you to everyone who attended the Victorian Broker Excellence Awards function! Congratulations to all our award finalists and winners in each category for 2019. Well done on all your hard work, and we look forward to another successful year together. See below for full coverage of finalists and winners from the event! Broker Group […]
Thank you to everyone who attended the New South Wales Broker Excellence Awards function! Congratulations to all our award finalists and winners in each category for 2019. Well done on all your hard work, and we look forward to another successful year together. See below for full coverage of finalists, winners and photos from the […]
The Reserve Bank of Australia decided to once again reduce the official cash rate, this time to 1% in a concentrated effort to boost household spending and the economy in general. In making the decision to lower rates again this month the RBA has signalled its focus on supporting employment growth as it looks to […]
With the uncertainty of the federal election behind it, the RBA has decided to reduce the official cash rate to 1.25% as it tries to stimulate household spending and the economy. This is the first rate move since August 2016 and I’d like to share some thoughts on why the Reserve Bank of Australia has […]
The RBA has decided to leave the official cash rate unchanged at 1.5% for the 29th consecutive time and we’d like to share some thoughts on why the Reserve Bank of Australia has made this decision. Only twice before has the RBA elected to drop rates during an election campaign and on both those occasions […]
Today industry, government and consumers came together at Parliament House for a forum discussion about issues affecting the housing industry, including changes to broker remuneration and the ALP’s proposed changes to negative gearing and capital gains tax. I was invited by Senator Zed Seselja, Assistant Minister for Treasury and Finance, to be part of a […]
AFG is expanding its current partnership with iSelect and has entered into a joint operation agreement with iSelect to help them provide an improved customer experience and to further enhance the provision of a digital home loan service to Australian borrowers. The joint operation will commence on 1 April. AFG has not acquired a financial […]
Australian Finance Group Ltd (ASX:AFG) said the Federal Government’s announcement on trail commissions today confirmed the vital role mortgage brokers play in generating competition in the home loan market. In response to the Banking Royal Commission recommendations, Treasurer Josh Frydenberg said the Government had decided not to prohibit trail commissions on new loans and opted […]
The RBA has decided to leave the official cash rate unchanged at 1.5% for the 28th consecutive time and we’d like to share some thoughts on why the Reserve Bank of Australia has made this decision. Following its February meeting, the RBA said the case for the next rate move to be a decrease was […]
As financial markets digest the findings of the Banking Royal Commission, the Reserve Bank of Australia has made its first rate announcement for 2019. The RBA has decided to leave the official cash rate unchanged at 1.5% for the 27th consecutive time. The RBA continues to balance the worrying parts of the economy – inflation […]
Australian Finance Group Ltd (AFG) said the Federal Government’s public acknowledgement of the importance of competition in the home loan sector directly recognises the benefits mortgage brokers bring to consumers. AFG welcomes the Government’s support for the industry and the need to protect competition in Australia’s home lending market. In its response to the final […]
AFG today said the ACCC’s Residential Mortgage Price Inquiry report has provided damning evidence of the major banks “synchronising” interest rate increases, underlining the importance of ensuring a competitive home loan market. AFG chief executive officer David Bailey applauded the ACCC’s conclusion that consumer choice and lower interest rates on offer from smaller lenders competing […]
As widely anticipated, in the final rate announcement for 2018, the Reserve Bank of Australia has left the official cash rate unchanged at 1.5% for the 27th consecutive time. The RBA continues to balance the positive parts of the economy including strong infrastructure spending, increased export earnings and 5% unemployment with some of the negative […]
AFG has launched a campaign designed to highlight to Australians and our key policy makers the important role mortgage brokers play in providing competition to the big four lenders. This campaign focuses on the many benefits competition brings in providing choice to borrowers and keeping downward pressure on interest rates. The competitive tension delivered by […]
AFG has today called for the customer to be first and foremost in the debate on mortgage brokers and the big banks. AFG Chief Executive Officer David Bailey has urged a careful and considered approach to policy settings preserving the best possible competitive arrangements as big banks seek to consolidate lending back to their branches. […]
As the nation stops to enjoy today’s Melbourne Cup, the only sure bet of the day was that the Reserve Bank of Australia would leave the official cash rate unchanged at 1.5% for the 27th consecutive time. Rates remain on hold while the RBA assesses domestic factors including slow economic growth, falling house prices and […]
The Reserve Bank of Australia has decided to leave the official cash rate unchanged at 1.5% for the 26th consecutive time. I’d like to share today’s rate announcement and the thoughts on why the Reserve Bank of Australia has made this decision. In making this decision the RBA looks to have balanced low unemployment, strong […]
The Australian broking landscape is changing. We’re seeing an unprecedented shift in AFG brokers broadening their capabilities to offer commercial finance. With brokers having less than 10% of the market, it’s no surprise commercial finance provides the largest opportunity for business growth. It’s time to get cracking and make your mark in this space. Commercial […]
Thank you to everyone who attended the AFG NSW and ACT 2018 Awards function on Friday 24th August at Hyatt Regency. We would like to take this opportunity to congratulate all of our award finalists and ultimate winners in each category for the 2018 year. It has been an amazing year for us all in […]
The 2018 annual awards function held on the 24th of August on the Gold Coast was a great success. We would like to take this opportunity to congratulate all of our award finalists and ultimate winners in each category for the 2018 year. Looking back it has been an amazing year for us all, plenty […]
On Behalf of AFG SA we would like to take this opportunity to congratulate to all of our SA Award finalists and ultimate winners in each category for the 2017/2018 year! It has been an amazing year for us all, plenty of changes in a vibrant industry, that continues to grow and flourish and provide […]
The Reserve Bank of Australia decided to once again leave the official cash rate unchanged at 1.5% with the last rate move back in August 2016. I’d like to share today’s rate announcement and the thoughts on why the Reserve Bank of Australia has made this decision. In making this decision the RBA looks to […]
The 2018 WA Broker Excellence Awards were held on Friday, 31 August at a cocktail reception held at the beautiful State Theatre of Western Australia. Brokers, partners, lenders partners and the AFG team gathered together to celebrate broker excellence. We would like to take this opportunity to again congratulate all of our award finalists and […]
The 2018 Victorian annual awards function held on the 23rd of August was a great success. We would like to take this opportunity to congratulate all of our award finalists and ultimate winners in each category for the 2018 year. Looking back it has been an amazing year for us all, plenty of changes in […]
AFG has today announced a new program of education for its top performing brokers. Called AFG Academy, the program involves an intensive 3-day live-in course in Sydney next month, delivered by Harvard Business School Professor, David J Collis. Commenting on the program, AFG CEO David Bailey said it provided a rare opportunity for attendees to […]
The Reserve Bank of Australia decided to once again leave the official cash rate unchanged at 1.5% with it now being two years since the last cash rate move. I’d like to share today’s rate announcement and the thoughts on why the Reserve Bank of Australia has made this decision. With a combination of factors […]
Major banks may well be the unintended beneficiaries of any move to ban trailing commissions for mortgage products, AFG has warned. Speaking after the release of the Productivity Commission’s final report into competition in the Australian Financial System, AFG CEO David Bailey cautioned that any move to ban trailing commissions for mortgage brokers would have […]
Today, the Mortgage Broking Industry Group* (MBIG) has launched The Value of Mortgage Broking, a report by Deloitte Access Economics. This report demonstrates the value that our industry brings to consumers, lenders and the Australian economy, by driving competition and delivering greater choice and valuable services to the Australians who need them most. The Value […]
The Reserve Bank of Australia decided to once again leave the official cash rate unchanged at 1.5% with the last rate move back in August 2016. I’d like to share today’s rate announcement and the thoughts on why the Reserve Bank of Australia has made this decision. The economy appears delicately poised with slow wages […]
Pipeline is your new broker workflow management software we’ve been designed in collaboration with our brokers, for our brokers. Pipeline brings you the software you need to keep track of your prospects, manage your loan applications and pre-set your activity plans to enable outstanding customer service. Opportunities start with Pipeline The customer card view in […]
I would like to share with you AFG’s response to the Productivity Commission’s Draft Report on Competition in the Australian Financial System. As you are aware we have been engaging with the Productivity Commission over and above the submission process and they have asked AFG to collate some real examples of the work you do […]
Earlier this month, Mark Zuckerburg, co-founder and CEO of Facebook, announced the latest update to Facebook’s algorithm, which will result in changes to the content that users are presented with on their news feed. Originally intended to be a social platform whereby users can interact and communicate with their friends and family, Facebook more recently […]
2017 has been an eventful year for the broking industry, and with the year coming to an end, it’s time to take a step back and reflect on the achievements and challenges experienced by our state team and members. Earlier this month, approximately 300 of our brokers in VIC, and AFG state office staff celebrated […]
2017 has been an eventful year for the broking industry, and with the year coming to an end, it’s time to take a step back and reflect on the achievements and challenges experienced by our state team and members. Earlier this month, our SA brokers and AFG state office staff celebrated the successes of the […]
With the end of 2017 fast approaching, it’s a time to reflect on the achievements and challenges throughout the year for our state team and members, and head into 2018 with optimism and passion for the industry we’re part of. Last week, approximately 350 WA brokers and AFG head office staff celebrated the successes of […]
The broking industry faced several challenges this year, but with the end of 2017 fast approaching, it’s time to reflect on the achievements of our team and re-charge ready for a successful 2018. Earlier this month, we celebrated the year with our brokers and AFG state office staff in several locations across QLD and NT: […]
Thank you to everyone who attended the AFG NSW and ACT 2017 Awards Night and Christmas function on Thursday 7th December at Doltone House, Hyde Park. We would like to take this opportunity to congratulate all of our award finalists and ultimate winners in each category for the 2017 year. It has been an amazing year […]
AFG (ASX: AFG) has today called on the banking Royal Commission to recognise the significant inquiries that have already been conducted into the mortgage broking sector and the important role mortgage brokers play in the Australian lending market, as the government outlines the inclusion of mortgage brokers in the scope of the banking Royal Commission. […]
Andre Eikmeier is an Entrepreneur, Co-Founder and Joint CEO of Vinomofo, one of Australia’s fastest-growing companies and a leader in innovation, disruption and culture. Andre spoke to our brokers earlier this year at our National Broker Conference in a talk titled Road to vino – how Vinomofo survived and conquered. Andre shared the failures, triumphs and […]
A few months ago we sent you our first training module in a series of learning and development topics aimed to educate and help future proof your business. That module was based on commonly asked questions of our marketing team regarding social media. We hope you found the Introduction to Social Media training video of interest. What training we have coming up The […]
Speaking at our National Broker Conference earlier this year, Dr Catriona Wallace, Founder and CEO of FinTech company Flamingo, highlighted the key customer experience trends. Catriona provided our brokers with practical, useful actions related to navigating this new paradigm. Customer experience has moved beyond personalisation to individualisation – where customers not only want a personalised offer […]
