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By: Staff Reporter
In a bid to improve its competitive position within the mortgage market, AFG will rebrand its own label mortgage division as 'AFG Home Loans’.
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According to AFG Home Loan’s general manager Paul O’Donnell, there are a number of market dynamics that support the rebranding.
“Australia is moving into a much more differentiated mortgage market. In the past, the Big Four banks and their subsidiaries pegged mortgage interest rates within a few points of each other. That spread is now a lot wider,” Mr O’Donnell said.
“There is also increasing differentiation in terms of product range, with some lenders withdrawing from certain loan types, including low doc and now there is further differentiation amongst lenders along the credit spectrum.”
Because of these dynamics, Mr O’Donnell said there is a growing demand among AFG members for lenders with a strong service focus and credit appetite that will meet the needs of their customers.
“AFG Home Loans delivers that. The newly rebranded division offers competitive interest rates, max turnaround times of 72 hours for loan approval and superior service.”
