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Non-major cuts rates

by Staff Reporter6 minute read

Staff Reporter

AMP Bank has joined the growing list of lenders to launch a sub-5 per cent fixed-rate mortgage.

Yesterday, the lender trimmed 50 basis points from its one-year fixed rate and 30 basis points from its two-year fixed rate, taking both mortgages to just 4.99 per cent.

In addition, the lender cut 10 basis points from its three-year fixed rate mortgage, taking it to 5.19 per cent.

The interest rate reductions exclude AMP Bank’s SuperEdge and Low Doc fixed-term home loans.

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