86 400 partners with AFG to expand its broker distribution network

Australia’s first smartbank 86 400 has signed a strategic partnership with Australian Finance Group (AFG) to expand its broker distribution network. With AFG on board, one in three mortgage brokers in Australia now have access to 86 400’s home loans.

The partnership will see AFG brokers gain access to 86 400’s fully featured Own home loan products from August 10, which remains the first and only digital mortgage offering for brokers in the country. The Own home loan – launched in November 2019 – enables digital verification of identity, a digital collection of expense and income information and all 86 400 documents are signed electronically. While current approval times from larger lenders have continued to slow amidst the current global turbulence, 86 400’s Own home loan can give brokers a yes or no decision in just a few hours.

“Brokers and customers want an application experience that’s easy to use and a process that gets them a decision quickly, giving both the broker and customer certainty and peace of mind, and that’s what we’re delivering through our digital solution. Partnering with AFG allows us to continue to help more Australians and more brokers realise the benefits of the 86 400 home loan.” – Robert Bell, CEO 86 400.

“We are pleased to announce the addition of 86 400 to the AFG panel as we continue to ensure the needs of our brokers and their customers are met. One of our core values over the last 26 years has been supporting our brokers to bring competition to the market and the team at 86 400 are very passionate about competing so they’ll fit in very well at AFG. We will continue working closely with our brokers and funders like 86 400 to give them the best possible chance to compete for business.” – AFG Head of Sales & Distribution Chris Slater.