AFG expands commercial lender panel

AFG Head office

AFG has further enhanced its commercial lender panel with the appointment of asset lender Australian Secure Capital Fund (ASCF) today.

Offering fast access to capital ASCF has a suite of private lending first and second mortgage loans together with a unique offering of SMSF and non-resident products. Their short-term loan products can assist business operators with a range of requirements including working capital, a commercial property purchase or to fund vehicles, plant or equipment.

AFG Head of Sales & Distribution Chris Slater welcomed ASCF to the panel. “The expansion of our commercial panel continues at a rapid pace and delivers on our commitment to providing more solutions for our brokers and their customers.

“The addition of ASCF means more diversity is available to our brokers to help them support Australian SME business operators at a time when they really need it.”

Commenting on the appointment to AFG’s lender panel, ASCF CEO Richard Taylor said: “Partnering with a mortgage aggregator like AFG shows the direction that private lending is heading. We look forward to working with AFG and their brokers to provide them with funding solutions.”

ASCF products are available to all AFG brokers experienced in commercial finance or residential brokers who have completed the AFG Business training pathway.

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HomeBuilder Program

Homebuilder

If you have been thinking about building a new home or carrying out an extension or renovation, now might be the time to meet with an AFG broker and work through your options.

The Federal Government’s new $680 million HomeBuilder program announced on 4 June 2020 makes available $25,000 grants to help build or substantially renovate your home.

How does the HomeBuilder program work?*

  • The scheme is only available for contracts signed between 4 June 2020 and 31 December 2020
  • Construction must commence within three months of the contract date
  • It is means-tested
  • Only available for principal place of residence
  • Limitations on the kinds of renovations (sorry, no tennis courts) and subject to a total value cap

If you’re a first home buyer, there are a range of first home buyer and state government grants, stamp duty concessions, and rebates as well as the federal First Home Loan Deposit Scheme and First Home Super Saver Scheme that are available and work in conjunction with the HomeBuilder grant.

Our brokers are here to help.

Still have questions?

Contact your AFG broker for more information or get in touch and we’ll have a broker in your area contact you.

* The information provided on the HomeBuilder program is a selection of information taken from Australian Government sources and is current as at the date of this post. It does not contain all information that may be relevant to you.

Specialty asset finance lender joins AFG panel

AFG Head office

AFG has expanded its panel with the addition of specialty asset finance lender Australian Motorcycle & Marine Finance (AMMF) to the AFG Business platform.

AFG Head of Sales & Distribution Chris Slater announced the addition in a message to brokers this week. “When a client looks to their broker for finance, they are looking for options. When a broker chooses an aggregator, they expect their aggregator to offer a lender panel that responds to customer needs and provides those options.”

“The addition of AMMF’s commercial products to the AFG Business platform delivers on that commitment,” he said.

AMMF has a broad range of asset finance options to meet customer needs. “As Australian small businesses come out of COVID-19 imposed hibernation, access to competitive finance is vital to assist them to get back on the road to recovery.”

“Some of the assets AMMF will fund include motorbikes; bike and boat trailers; all-terrain vehicles; power products such as ride-on mowers and generators, and marine pleasure craft. They also fund commercial marine equipment including engines as stand alone.”

Commenting on the announcement Marty Bear, AMMF National Manager Australia and New Zealand – Broker, said: “AMMF is a specialist lender for leisure goods in both the Commercial and

Consumer markets. We are really pleased to be welcomed on to the AFG panel and look forward to working closely with such a great aggregator as AFG and its broker network.”

“The AFG Business platform takes the legwork out of commercial lending by matching transactions and customers to a lender’s credit requirements,” said Chris. “We are very pleased to welcome AMMF to the AFGB Platform and their consumer products to the AFG Asset Finance panel.”

AMMF products are available to AFG brokers from today.

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RBA’s cash rate for June unchanged at 0.25%

The cash rate decision for June has been announced by the RBA with the rate unchanged at 0.25%.

The Bank withstood calls for further reductions, with some commentators suggesting negative interest rates remain a future possibility.

Whilst the RBA will be mindful of concerns around the rising value of the Australian dollar and its impact on exports, reductions in property prices and uncertainty around employment post JobKeeper, it stuck by its view that a rate of .25% is an appropriate floor.

If the COVID-19 crisis is affecting your financial situation, please get in touch so an AFG broker can formulate a plan to manage your loan repayments during these unprecedented times.

An AFG broker can help review your situation to ensure you have the right loan for your circumstances, by drawing on a wide panel of lenders offering loans with great features, low fees and competitive interest rates.

If you’d like to chat about the best way to manage your mortgage as the COVID-19 crisis continues to unfold, please get in touch with an AFG broker.