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Australian First Mortgage has “upped the ante in the competition stakes” by removing loan protection fees and giving $1,000 rebates on some deals.
The non-bank lender has removed loan protection fees for prime loans up to 85 per cent LVR.
This offer applies to the Alternate Prime and Alternate Prime Plus products. It is a temporary special, although a closing date has yet to be provided.
Australian First Mortgage said it could potentially save clients thousands of dollars by letting them finance their new home without the burden of mortgage insurance or a risk protection fee.
Borrowers can also receive $1,000 cashback for new near-prime and specialist deals.
This offer applies to the Ultimate and Alternate products and will continue until October 17, with new applications required to settle by December 30.
National sales manager Paul Grant said Australian First Mortgage prided itself on being innovative with its product offering and listening to the market.
[Related: AFM cuts rates by 70 points]
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