A leading non-bank lender has slashed up to 50 basis points from its suite of fixed rate products.
Effective from today, Australian First Mortgage will cut the rates on both its residential and commercial fixed rate loans.
According to a company statement, the lender will trim more than 40 basis points from its Complete Option Full doc three year fixed rate home loan, taking the new product to 6.07 per cent for LVRs less than 50 per cent.
In addition, the lender will strip 30 basis points from its five year Flexible Option Full Doc fixed rate home loan, taking the product price to 6.73 per cent.
Low doc interest rates have also been reduced, in the flexible option range from 0.30 per cent for 5 years to 0.19 per cent for 1 year.
Meanwhile AFM’s commercial interest rates on the AFM/ABL Smart Suite Commercial products have been cut by as much as 55 basis points.
AFM director Iain Forbes said these reductions in interest rates have provided the lender with an opportunity to offer some market leading fixed rates.
“These rates will help us move forward in building our portfolio, and our strategy of organic growth,” he said