AFM Slashes Interest Rates Again
For the 3rd time in 3 weeks AFM, has once again slashed interest rates. This time on the AFM Alternate Funding Programme. Interest Rates have been reduced from 0.51% to 1.56%, on the Lo Doc Alternate product…
The current AFM variable Interest rate on an LVR up to 65% is 9.75% which will now reduce to 8.19%, a reduction of 1.56%. This is a substantial reduction for a Lo Doc Loan.
In a market that may be described as competitive and tough, AFM Director Iain Forbes said “We are extremely busy at present, with all Credit staff working to capacity, to maintain the AFM motto of” Higher Standards – Higher Service.”
AFM recently introduced its lending on residential and commercial loans to Self-Managed Super Funds (SMSF). This division continues to grow as brokers are being trained on the product and its features.
For more information:
Joint Managing Director