Australian First Mortgage (AFM) has joined the growing list of lenders to slash the interest on their fixed rate products.
The lender has reduced the interest rate on its one- and three-year fixed rate home loans by 20 basis points, effective today.
In addition, AFM announced it would cut 15 basis points from its two-, four- and five-year fixed rate products.
AFM director Iain Forbes said the lender’s fixed rates are now “incredibly competitive”.
“On top of that, if you look at our full doc/lo doc, SMSF loans and lending on commercial property, AFM is fast becoming the 'one-stop shop' for borrowing on property,” he said.