Mortgage manager drops both fixed and variable rates

by AB16 Jul 2013

Australian First Mortgage Pty Ltd, (AFM) has announced a reduction in their fixed and variable interest rates outside the RBA's July decision.

The mortgage manager is presently celebrating its ten-year anniversary and has, from the July 15, reduced interest rate margins on some of its Complete Option range of full doc products.

The interest rates reduction of 0.05% applies to all full doc loans, regardless of loan amount.

Loan amounts over $200,000 will be reduced by 0.08% (LVR 75 – 90% LVR) and fixed interest rates by 0.03% for LVR’s of 75% - 90%.

While lending is competitive, AFM promises the market place to promote its ‘flexible lending flexible options’ approach to business, while promising ‘customised products and excellence in service’.