Fixed rate cuts expand to construction

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Two non-bank lenders have joined the recent wave of fixed rate cuts, and have opened the discounted fixed rates to construction loans.

Australian First Mortgage has reduced the two and three-year fixed rates on its Flexible Option Full Doc products, with its two-year rate now 6.79% and its three-year rate at 6.84%.

Meanwhile, Future Financial has also announced cuts to its fixed rate products, bringing its two-year rate to 6.79% and its three-year rate to 6.89%.

Both companies have opened the products to residential construction loans for owner-occupiers and investors, and both include the option of a 100% offset account. Future Financial has also touted a rollover rate of 7.19% at the end of its fixed rate period.

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now

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