'High demand' sees lender launch new SMSF product

by AB04 Feb 2013

Australian First Mortgage Pty Ltd (AFM) has announced the release of its second funding line in respect to lending to SMSF’s.

Founding director, Iain Forbes, says AFM recently entered the SMSF lending market with the introduction of its ‘Platinum Programme’ for residential properties, where the maximum LVR was limited to 70%.

The announcement confirms an 80% LVR on its new Secure Option Full Doc residential product.

“This new product is exciting as the higher LVR was in much demand and, unfortunately, AFM did not have a funding line to accommodate these requests.”

Forbes says repayments can be by way of principal and interest to 30 years P&I, or interest-only to 10 years.

The maximum loan amount is $500,000.