Non-bank cuts rates

29 NOV 2010 • 1 min read • Finance

Australian First Mortgage (AFM) is working to deliver a competitive offering, announcing reductions in the interest rates of all of its Complete Option home loans.

Late last week, AFM announced it would cut 0.08 per cent from all of its Complete Option range of products, taking the new interest rate to just 7.09 per cent.

In addition, the products also boast zero application fees and a free valuation report up to $220.

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AFM’s director Iain Forbes said the lender would do whatever it could in order to show that non-bank lenders are a good alternative to the banks.

“Non-banks offer competitive pricing and quick approvals,” Mr Forbes said.

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