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Australian Financial has modified its commission structure in an attempt to position itself as the non-traditional lender of choice for brokers.
The group has implemented a 0.80 per cent upfront commission rate on all of its mortgage products, as well as 0.25 per cent trail for most of its products.
“What this means for brokers is they can still offer a competitive sub-five per cent interest rate with a rewarding commission structure of 0.80 per cent upfront,” national sales manager Alicia Carter said.
“I believe that 0.80 per cent upfront and 0.25 per cent trail reflects the true value associated with broker-introduced business.”
Ms Carter hopes the new commission structure changes the mind of some brokers about the “exclusive” image of non-traditional forms of lending.
“I hope to see SMSF lending, commercial, low-doc, non-conforming and non-resident lending become mainstream within the broker channel and brokers use solution-based products as their point of difference,” she said.
[Related: CBA announces new commission structure]
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