Mortgage manager chops fixed and variable rates

Australian First Mortgage Pty Ltd (AFM) has reduced its variable interest rates on all its products following the recent decision by the RBA announced on 6th August.

The following reductions apply:

• Adelaide Bank Flexible Option: Variable rate reduced by 0.25%; Fixed Rate reduced by: 0.10% - 0.20%
• Advantedge Complete Option: Variable rate reduced by 0.25%; Fixed rate reduced by 0.10% (1&2 years)
• ING Platinum Option: Variable rate reduced by 0.25%
• Resimac Secure Option: Variable rate reduced by: 0.25%
• Pepper Alternate Option: Variable rate reduced by 0.25% (New business)

In addition to the reduction in the variable interest rates, AFM has also dropped its fixed rates on its flexible Option by 0.10% - 0.20% and Complete Option by 0.10% for one and two years.

“These are exciting times and I have not seen these low interest rates during my many years in the banking and finance industry,” says AFM founding director, Iain Forbes. “The time is right to buy property at the right price, or refinance with AFM.”