SocietyOne secures mortgage broker partnership
SocietyOne has forged a partnership with Australian Finance Group, as it sees opportunities in the mortgage market that will complement its personal loan offering
AFG is one of Australia’s largest mortgage brokers with a loan book that is worth over $140 billion with a network of around 3,000 finance brokers.
Since it began its broker channel 16 months ago, SocietyOne has written over $70 million in personal loans through the channel.
“We strongly believe in the strength of AFG’s network, and also that our loans will readily complement other loans offered,” SocietyOne CEO Mark Jones said.
“Our debt consolidation loans, as just one example, will be especially useful for customers also wishing to apply for a home loan through this channel,” Jones added.
“We view this partnership as a critical component of a broader strategy to increase our strength in the broker channel, and we look forward to seeing our loan volumes continue to increase as a result.”
SocietyOne provides unsecured, fixed rate personal loans between $5,000 and $50,000, over terms of 2, 3 or 5 years.
The business has also more recently launched a free credit score product, helping customers find out more about their score, how it works and how to improve through easy to understand insights.