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By Tim Neary
July 10, 2012
Iain Forbes
Determined to keep passing rate reductions on to its customers, one non-bank lender has taken the knife to its interest rates yet again.
Australian First Mortgage has reduced the interest rate on its SmartSuite Commercial range this time - by a further 0.20%.
This brings the variable rate on an AFM commercial loan with an LVR of less than 65% to 7.89% - and to just 6.64% for a one year fixed rate with the same LVR.
Director Iain Forbes said AFM is "determined" to pass on every rate reduction.
Furthermore he suggested commercial tenants should consider buying their own property, rather than paying rent.
"There is no guarantee that a tenant's lease will be extended on expiry," he added.
"If you do have to move consider the hassles of moving; the cost to re-locate can be quite expensive when you consider things like new signage, telephone and IT connections," Forbes said.
The new rates are effective from July 9th and apply to all new and existing business.
Related Stories
Its three-for- three as AFM slashes rates again - For the third time in as many weeks determined non-bank lender Australian First Mortgage has taken the knife to its interest rates.
AFM appoints new joint MD - Fortifying its commitment to the non-bank lending channel, Australian First Mortgage has made yet another strategic appointment.
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