AMP Bank today announces it will begin lending to mortgage broking businesses, strengthening its commitment to the mortgage broking industry.

Mortgage broking finance builds on the Bank’s deep 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. The offer will support a variety of scenarios for brokers that will support the growth of their 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.

AMP Bank’s relationship managers and business development team already provide education, counsel and strategies for brokers and adviser businesses, which will be complemented by the introduction of the Bank’s finance offer.

AMP Bank’s investment to support brokers in growing their businesses reflects the Bank’s commitment to intermediary distribution and its importance to driving the Bank’s strategic growth agenda.

The Bank is also delivering enhancements, including to self-service capability and support for brokers and advisers, along with increasingly digitalising and automating the lending experience across its channels.

Sean O’Malley, AMP Bank Group Executive said:

“The mortgage broker profession continues to grow and play an important role in supporting Australians realising their home ownership aspirations.

“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.”

Paul Herbert, Head of Intermediary Distribution and Governance said:

“AMP Bank has strong experience partnering with brokers and advisers, and close relationships with aggregators and their distribution network.

“Mortgage broking finance is a natural fit for the Bank within our existing expertise, and further demonstrates our commitment to brokers.

“Any brokers interested in our offer should speak to their AMP Bank Business Development Manager or their aggregator to learn more.”

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