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Lender follows May rate cut with June cut

by Staff Reporter7 minute read
The Adviser

Brokers have been offered “minimal costs at high-end LVRs” after one lender cut 10 basis points from one of its home loan products.

Australian First Mortgage is now offering variable rates of 5.09 per cent for its Platinum Option package for loans with an LVR of 90 per cent or less.

The loans come without annual fees.

AFM also reduced some of its two-year and three-year fixed rates in mid-May.

Managing director David White said the two rate cuts had added extra features and benefits to what was already an excellent product suite.

“This latest move by AFM gives brokers access to a great product with minimal costs at high-end LVRs,” he said.

“AFM’s Platinum Option allows for LVRs of 97 per cent for owner-occupiers and 95 per cent for investors – and all include construction options.”

[Related: AFM launches new high-LVR product]

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