Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter

Competition for distribution is rife: AFG

The founder of Australia’s largest mortgage broking group believes we are in the most competitive market he has seen in his career.

AFG executive director Kevin Matthews told Mortgage Business “everybody is keen to get loans on their books, which means they’ve got money to lend”.

The competition in the mortgage market for distribution for volume … I’ve never seen it this competitive in my entire career,” Mr Matthews said, adding that lenders are geared up for volume and keen for business.

Advertisement
Advertisement

“I’ve never seen it quite so competitive,” he said.

CUA chief executive Chris Whitehead has seen heavy discounting and “intense price competition” among lenders.

“Right now we are seeing a lot of under-the-counter offers and a lot of discounts that apply,” Mr Whitehead told Mortgage Business.

“There is intense price competition and lots of advertising and promotion, both in terms of acquiring new business and refinancing,” he said.

Competition for distribution is rife: AFG
mortgagebusiness

Latest News

Firstmac managing director Kim Cannon is “disappointed” that Treasury rejected the non-bank’s proposed acquisition of Maleny Credit Un...

Asset finance group Consolidated Operations Group has announced that it will “scale back” its equipment leasing but will continue its as...

Half of Australian businesses have already been hit by the economic fallout from the coronavirus outbreak, with approximately 86 per cent ex...

FROM THE WEB
podcast

LATEST PODCAST: The rush to save small businesses

Do you think Australia will move to quantitative easing this year?

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of Mortgage Business.

Read more

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.