AFM Bolsters Its Product Range
The Value Option is a feature rich new inclusion to the existing AFM range of products
Non-bank lender Australian First Mortgage has launched a new full-doc product in response to an overwhelming growth in demand.
The Value Option is a feature rich new inclusion to the existing AFM range of products that will enable home buyers to borrow funds for the purchase of an investment residential property, a home to live in or to refinance their existing mortgage.
It has a maximum loan size of $1,000,000, an LVR of 90% inclusive of LMI, and comes with competitive fixed or variable rates that are priced according to the LVR taken. It also boasts a fully functional offset account.
Managing Director David White said the new product will boost AFM’s already robust product offering.
“It allows us to provide solutions to our broker network based on their customers’ unique needs, in particular an excellent SMSF product catering for all types of SMSF requirements,” he added.
“We have experienced rapid growth in demand for our full doc products and as such have created one with a low interest rate and a raft of innovative features,” said Mr White.
He said the opportunities in the prime lending space remain significant, and that AFM is working closely with its broker network to provide the products, and the support required, to maximise these opportunities.
The Value Option product range also comes with an SMSF, NRAS and Construction choice.
The new product range will be available on April 7, 2015.