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Lender slashes commercial rate again

by Staff Reporter7 minute read
The Adviser

Jessica Darnbrough

One lender has cut the interest on its variable commercial rate for the second time in 10 days.

Effective from today, Australian First Mortgage has not only cut 30 basis points from its variable commercial interest rates, but the lender has also launched a new commercial fixed rate loan at an interest rate of 6.90 per cent fixed for 3 years – to a maximum LVR of 65 per cent.

This new product is only available for a short period of time, and deals must be approved before 30th June and settled by 31st July 2012.

Speaking about the product enhancements, Australian First Mortgage director Iain Forbes said the lender’s commercial division is there to “help brokers”.

“Here at AFM we say we structure, we lend,” he said.

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