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The aggregator has added a short-term private lender to its lender panel, marking the first time a short-term lender has been made available to its brokers, AFG said.
Australian Finance Group (AFG) has appointed non-bank mortgage lender, Funding, to its lender panel.
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Funding is a short-term private lender that offers first and second registered mortgages, according to AFG.
According to Funding, it services borrowers with short-term loan requirements (for example, six to 24 months instead of a 30-year home loan) and also provides loans for self-employed borrowers, as well as debt consolidation services.
AFG said Funding products are available to AFG brokers, effective 24 March.
Commenting on the addition of the lender, AFG head of sales and distribution Chris Slater said: “The appointment of Funding to the AFG panel marks the first time a short-term residential lender has been made available to our brokers.
“Funding offers short-term property-secured loans for many objectives, including bridging loans, business and personal loans, development and construction loans, and many other purposes with loan terms from three months to three years. If a borrower only requires funds for a short term, rather than a 30-year home loan, they can often struggle to have a bank meet their needs.
“With a local credit assessment team on the Gold Coast, Funding is also known to deliver a quick turnaround, which is important to brokers and to borrowers.”
Funding national partnership manager Michelle Southern said: “We are super excited to partner with AFG and provide our product to their professional network of brokers.
“This partnership furthers Funding’s mission to be the trusted name in private lending, providing faster, simpler, short-term funding.
“Now is the perfect opportunity for brokers to consider private lending as a credible solution for borrowers seeking fast and flexible property finance outside traditional lenders.”
AFG recently announced that the group is offering brokers a trail book marketplace, which is being managed by trail book buyer and mergers and acquisitions advisory firm TrailBlazer Finance, which recently joined AFG’s commercial and asset finance panels.
[Related: AFG adds specialist lender to lender panel]
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