The bank's range of home loan products are now accessible in AFG's system
Australian Finance Group Ltd (AFG) has announced that HSBC Australia’s range of home loan products have been made accessible on AFG’s system.
“Over the past two years, HSBC and AFG have been working closely on an engagement model and we are now delighted to make HSBC accreditation available to all our brokers,” said Them Lam, general manager, aggregation at AFG.
“There has certainly been strong demand for HSBC’s products, and we’ve had a high number of requests for accreditation from our brokers. People know the brand name, and they’re comfortable with it.”
In early 2021, AFG began partnering with HSBC, with the firms eventually executing an agreement in September of the same year.
Lam said that the full appointment of a lender that bears strong and trusted brand recognition will further enhance the current lending panel that AFG has.
“HSBC is a valuable addition to our 80-plus-strong panel of lenders. A further benefit is that AFG brokers can streamline and expedite their accreditation with HSBC through AFG’s online training platform Learn,” said Lam.
The broker aggregator also released a white label home loan range this month through its partnership with Brighten Home Loans. This came following growing demand for innovative home loan options for customers who live abroad.
It was notable that for the final quarter of the 2023 financial year, AFG had a 15.6% boost in its residential mortgage finance volumes despite the slowing market. AFG brokers lodged $22 billion in residential mortgages in Q4.
“We are excited to now be able to offer our products and services to all AFG brokers and their customers, and to expand our mortgage broking network across Australia,” said Christine Artin, head of channels at HSBC Australia.
“We look forward to growing the partnership with AFG,” she added.
