"Poised" non-bank appoints mortgage head

The former Future Financial and Better Choice Home Loans COO is in a new role

"Poised" non-bank appoints mortgage head


By Rebecca Pike

A non-bank has said it is “poised to capitalise on the increasing opportunities” in a changing lending landscape.

Australian First Mortgage (AFM) has announced the appointment of former Future Financial and Better Choice Home Loans COO Troy McLachlan as head of mortgage distribution.

CEO of AFM, Steve Dover, said the non-bank had been on a carefully constructed yet aggressive growth path.

He said, “AFM has maintained its high levels of service through the recruitment of skilled, industry-savvy professionals and Troy is a welcome addition.

“Troy brings a wealth of knowledge and enthusiasm to AFM, with his extensive background in the financial services industry. Over and above heading up groups such as Better Choice, he has a broad range of experience holding various positions for a mortgage insurer and legal firm.

“We are currently in a growth phase of the business, so Troy’s appointment has been timely as there are a number of opportunities in mortgage distribution which still remain very attractive.”

Speaking of his new role, McLachlan said his initial focus would be on broadening AFM’s product offering and further strengthening relationships with its aggregation partners and brokers.

He said, “Near-prime, self-employed and specialist lending are key areas that I will be focusing on over the coming months.

“Self-employed borrowers can face significant challenges securing a mortgage, and with the rising number of Australians becoming self-employed, we understand that lenders need to adapt to meet their needs.

“My plans also include the introduction of new funding lines and leveraging existing long term relationships. It’s all about helping our brokers convert more loans, more regularly. If their business is successful, then so is ours.”

McLachlan said the company’s strong servicing reputation was bolstered by the fact that it was well respected by its current funding lines.

He said, “AFM holds delegated lending authorities of up to $2 million with its funders.

“We are not owned by a bank, funder or aggregator which allows us to get on with the business of providing our brokers and customers with positive outcomes, devoid of conflict.

“The ability to approve loans in-house with a same day turn around, depending on the product, ensures we stand out from our competition.”

AFM is funded by a select group of Australian banks and wholesale lending institutions; including Bendigo and Adelaide Bank, NAB’s Advantedge Financial Services, Resimac, and Pepper Money.



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