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Non-bank trims rates

by Staff Reporter7 minute read
The Adviser

Staff Reporter

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.

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