#keepcompetitionalive

With the election now behind us we suggest you send a message of congratulations to those Coalition MPs and Senators you have met with who delivered on their commitment to support our industry. Likewise, we suggest you send a message of congratulations and thanks for the opportunity to voice your concerns to those Labor MPs and Senators who have been reelected.

You will already have their email address details from prior contact, click on the attached for suggested wording that you can edit to suit the situation.

The Government is going to making some very important decisions regarding regulation and remuneration of Australian mortgage brokers.

Now is the time to voice your support for the mortgage broking industry to ensure government deliver a strong mortgage broking industry that brings increased competition, wider choice between lenders and competitive interest rates.

We believe mortgage brokers should always be in the customer’s corner reviewing finance needs and circumstances and keeping the banks honest – over the life of a customer’s loan.

Brokers need a remuneration model that supports and fosters these behaviours and outcomes. As everyday Australians and small business owners, it’s time to speak up, be heard and keep the competition alive.

Australians want brokers

Right now, 55% of Australian borrowers1  choose to secure their loan from one of the 27,0002 people working in the mortgage broking industry.

Brokers provide outstanding customer service

The Net Promoter Score (NPS) customer satisfaction measure of Mortgage Brokers is in excess of +703 which is outstanding and industry leading.

Brokers bring choice and competition to the table

Over the past 30 years, brokers have contributed to the fall in net interest margin for banks of over 3 percentage points4. This means a saving of over $300,000 on a $500,000 thirty-year loan (based on an interest rate fall from 7% to 4% pa).

The numbers all add up

Mortgage brokers keep lenders competitive, bring borrowing costs down and as vital small businesses they contribute $2.9 billion5 to the Australian economy.

Don’t give the big banks the power

The only winners from less competition are the big banks.

Let’s keep competition alive.

Who is AFG?

AFG was established in 1994 and has grown to become one of Australia’s largest mortgage broking groups, with around 2900 finance brokers around Australia.

Brokers with AFG have the ability to offer their customers a choice of over 3,800+ finance products from a range of Australia’s lenders.

Each month our brokers will help around 10,000 Australians get a loan that’s right for them.

  1. MFAA IIS Report 5th edition, produced by CoreLogic
  2. Deloitte Access Economics The Value of Mortgage Broking Report July 2018
  3. MFAA’s The Australian Mortgage Broking Industry: Through a Different Lens
  4. Deloitte Access Economics The Value of Mortgage Broking Report July 2018
  5. Deloitte Access Economics The Value of Mortgage Broking Report July 2018

Contact us

General enquiries
keepcompetitionalive@afgonline.com.au
1300 130 987

Media enquiries
mdmedia@afgonline.com.au

Australian Credit Licence 389087
ACN 066 385 822