Mortgage and financial services company Affiance Group is set enter into a new joint venture with Mirvac’s James Fielding Capital.
The 50/50 venture will focus on developing residential lending products.
Affiace Group’s chief executive Mark Forsyth said the new joint venture signaled the group’s focused strategy of establishing a leading position in niche, high-value segments of the residential lending market.
James Fielding Capital’s director Garry Rothwell the initiative has the potential to make strong inroads into the residential lending market.
This latest announcement follows Affiance’s acquisition last month of a major shareholding in Lawfund Australia, one of the country’s largest residential mortgage brokers/ aggregators with a loan book exceeding $5 billion.
By Kathryn O’Meara
