Non-bank announces further rate cuts

by AB09 Jul 2014
A non-bank lender has announced a further round of rate cuts.

Mortgage manager Australian First Mortgage has cut 3-year and 5-year fixed rates on its Flexible product range. The lender cut 15bps from its 3-year rate, taking the rate to 4.94% for full doc and 6.04% for low doc deals. Its 5-year product has been cut by 40bps to 5.48% for full doc and 6.54% for low doc.

“This latest round of rate cuts underlines AFM’s commitment to develop innovative solutions for the benefit of both our brokers and their clients,” AFM managing director David White said.

The cuts follow on cuts to the lender’s commercial product suite announced last week.