AFM cuts rates

Staff Reporter

Australian First Mortgage has become the latest mortgage manager to challenge the majors on mortgage pricing.

Yesterday, the company announced its plans to trim 0.15 per cent from its variable Flexible Option, Term Loans, LOC Products and Low Docs.

Effective from tomorrow, AFM national director of sales and marketing Iain Forbes said the changes would help increase the company’s competitiveness in the mortgage market.

“In recent weeks, there has been plenty of speculation that rates will increase. However, we are bucking the trend and slashing rates. It is a very exciting and interesting time for AFM at the moment,” Mr Forbes said.

The rate reduction is available for a limited time only.