A mortgage manager will cut its 1-year fixed rate on a range of product from tomorrow.
Australian First Mortgage has announced that it will cut 0.1% off its 1-year fixed rate on its Flexible Option products, bringing the rate down to 5.43%.
The price adjustment applies to both full-doc and low-doc products in the Flexible Option range.
Recently, AFM increased broker upfront commissions on its popular Complete Option range from 0.65% to 0.7%.
AFM's national head of sales Clint Hawthorne said the manager hoped to reward loyalty through the changes.