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Australian First Mortgage has wasted little time unveiling another round of rate cuts, with fixed rates falling by up to 40 points.
The non-bank lender has followed a 50-point cut to its commercial rates earlier this month with a reduction of up to 40 basis points on its Flexible product range.
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The Flexible three-year fixed rate has been reduced by 15 points, taking the full-doc price to 4.94 per cent and the low-doc price to 6.04 per cent.
Five-year fixed rates have fallen by 40 points, with the full-doc now at 5.48 per cent and the low-doc at 6.54 per cent.
The new rates become effective on July 10.
Managing director David White said Australian First Mortgage was serious about its promise to offer brokers a wide range of products at the most competitive rates.
“This latest round of rate cuts underlines AFM’s commitment to develop innovative solutions for the benefit of both our brokers and their clients,” he said.
“We are always reviewing our products and the feedback we get from brokers and customers, and we’ll continue to bring leading products to the market and back them up with good old-fashioned service.”
This is the fourth time in three months that Australian First Mortgage has reduced its rates, following a 10-point variable cut in June and a 10-point fixed-rate cut in May.
