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Non-bank cuts rates under 6pc

by Staff Reporter7 minute read

Determined to establish itself as a true alternative to the big four, Firstfolio Limited has slashed its two and three year fixed rates to just 5.89 per cent.

In addition, the non-bank lender has trimmed the interest on its four and five year mortgage rate to 6.45 per cent.

Firstfolio's executive general manager of retail distribution Andrew Clouston said the lender was committed to offering consumers the best deals in difficult economic times.

"Homeowners are feeling the pinch as electricity prices and grocery bills continue to rise," Mr Clouston said.

"Firstfolio, through its network of lenders, is in a position to cut rates and it's only fair we pass these on to our borrowers."

The new rate, which is available from today onwards, will be distributed through NFC.

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