Non-bank lender Australian First Mortgage (AFM) has announced its latest interest rate change for fixed rates on one of its most popular home loan products.
AFM’s Complete/Alliance option has been adjusted to 4.38%, a decrease in 20 basis points for the one-year fixed loan. The two-year, four-year and five-year home loans were cut by 35 basis points to 4.37%, 4.63% and 4.58%, respectively.
The three-year fixed rate is also down to 4.33%, a dramatic decline of 45 basis points.
Elsewhere, Advantedge also lowered the rate on its PLAN Lending, FASTLend and ChoiceLend fixed rate product suite.
Advantedge’s new rate was in effect last week. Its one-year fixed rate was down 20 basis points to 4.14%. The two-year, four-year and five-year fixed rates cut 35 basis points to 4.14%, 4.34% and 4.34%, respectively. The three-year fixed rate cut 45 basis points to 4.14%.
General manager Brett Halliwell expects further exclusive deals across the white label product later this year.
It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan