AMP: Bank Launches Mortgage Brokering Finance, Strengthens Commitment to Intermediation Channel

Financial Planners

AMP Bank announced today that it will begin lending to the mortgage brokerage business and strengthen its commitment to the mortgage brokerage industry.

Mortgage Broking Finance builds on the Bank’s extensive experience in third-party channels and existing commercial lending operations with financial planners.

The new offer is customized to the broker’s situation and offers a competitive credit policy. This offer supports a variety of scenarios for brokers that support business growth, including mortgage his broker mergers, acquisitions, stock buy-ins, and investments. AMP Bank has worked with major aggregators to ensure that this offer meets brokers’ needs.

AMP Bank’s relationship managers and business development team already provide education, advice and strategy for brokerage and advisory businesses, complemented by the introduction of the bank’s financial services.

AMP Bank’s investment in supporting brokers in growing their business reflects the bank’s commitment to intermediation sales and its importance in advancing the bank’s strategic growth plans.

Banks are also offering enhancements, including self-service capabilities and support for brokers and advisors, as well as digitizing and automating the lending experience across channels.

AMP Bank Group Executive Sean O’Malley said:

“The mortgage brokerage profession continues to grow and plays an important role in helping Australians achieve their homeownership aspirations.

“AMP Bank has an important role it can play to help brokers grow their businesses. This includes acquisitions, succession planning or other investment opportunities.

“We are proud of our longstanding commitment to our brokers and to continuing to support them in the next phase of their business.

“Offering mortgage brokerage finance strengthens our proposition in third-party channels and supports our strategic agenda to grow AMP Bank.”

Paul Herbert, Head of Intermediate Distribution and Governance, said:

“AMP Bank has extensive experience working with brokers and advisors and has close relationships with aggregators and their distribution networks.

“Mortgage brokerage is a natural fit for us within our existing expertise and further demonstrates our commitment to brokerage.

“Brokers interested in our offer should contact their business development manager or aggregator at AMP Bank to find out more.”

The issuer and credit provider of the product is AMP Bank Limited ABN 15 081 596 009, AFSL and Australian Credit License 234517.

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