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Non-bank abolishes ERFs

by Staff Reporter7 minute read
The Adviser

Staff Reporter

Australian First Mortgage has announced it will abolish the early repayment fees on all the variable rate loan applications and submitted loans funded by Advantedge.

According to the mortgage manager’s director Iain Forbes, the early removal of ERF’s reflects the company’s commitment to the third party distribution channel.

“AFM is committed to ensuring the AFM products remain comparable with the market,” Mr Forbes said.

In addition to the removal of ERF’s, AFM’s complete option products boast no application fees, no valuation fees, no legal fees, no annual fees and perhaps most importantly, no commission clawback.

“AFM is working with people of Australia to ensure home ownership and affordability remains competitive in an environment of rising living costs,” Mr Forbes said.

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