The move is part of the bank's strategic growth agenda
AMP Bank is strengthening its commitment to the mortgage broking industry with a fresh offering.
AMP said it will begin lending to mortgage broking businesses, building on its experience in the third-party channel and existing commercial lending practice with financial planners.
The new offer is customised to broker circumstances and provides competitive credit policies, to support a variety of scenarios to help grow brokers’ businesses, including mortgage broker mergers, acquisitions, equity buy-ins, and investments. AMP Bank has been engaging with leading aggregators to ensure the offer will deliver on the needs of brokers.
“The mortgage broker profession continues to grow and play an important role in supporting Australians realising their home ownership aspirations,” said Sean O’Malley (pictured above left), AMP Bank group executive. “There is an important role AMP Bank can play to support brokers in growing their businesses. This includes acquisition, succession planning, or other investment opportunities.
“We are proud of our longstanding commitment to brokers, and that we’re able to continue to back the next phase of their businesses. Providing mortgage broking finance strengthens our offer in the third-party channel and supports our strategic agenda to grow AMP Bank.”
The introduction of AMP Bank’s finance offer will complement the education, counsel, and strategy already being provided by the bank’s relationship managers and business development team for brokers and adviser businesses.
“AMP Bank has strong experience partnering with brokers and advisers, and close relationships with aggregators and their distribution network,” said Paul Herbert (pictured above right), head of intermediary distribution and governance. “Mortgage broking finance is a natural fit for the bank within our existing expertise, and further demonstrates our commitment to brokers.
The bank said it is also delivering enhancements, including self-service capability and support for brokers and advisers, along with increasingly digitalising and automating the lending experience across its channels.
Brokers interested in AMP Bank’s latest offering are encouraged to reach out to their AMP Bank business development manager or their aggregator to learn more.
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