Lender chops fixed rate to 4.54%

by AB18 Jun 2013

Advantedge Financial Services has just reduced their standard fixed rates on one, three, four and five-year fixed rate terms, with the lowest available rate from 4.54% on a one-year loan (reduced by 0.10%) and from 4.69% on a three-year loan (reduced by 0.15%).

The group has also unveiled a fixed rate from 5.06% on a four-year loan and reduced their five-year terms by a further -0.10% from 5.12%.

The new rates are available exclusively through Advantedge’s home brand fixed rate product suite under PLAN Lending, FASTLend and ChoiceLend and are effective from today.

Brett Halliwell, GM of Advantedge Distribution, says the rate reductions are a reflection of Advantedge’s ongoing commitment to its brokers.

“Advantedge is committed to offering fixed rate products available exclusively through the broker channel, which provides brokers with the opportunity to offer their customers some of the most competitive rates in the market. We are happy to drive competition by offering brokers under the Choice, PLAN and FAST aggregation platforms exclusive access to our attractively priced home-brand products.”

Halliwell says Advantedge is well positioned to understand the competitive nature of the market and intends to continue to respond accordingly.

“We’re constantly listening to broker feedback and working hard on improving our offering to give our brokers and their customers the product, price and service offering they deserve.”

The above rates are available only using a combination of product options and loan features.

Fixed rate term

Rate Change (p.a.)

Full Doc Standard (p.a.)

Discounted Rate (p.a.)

1 year

-0.10%

4.64%

4.54%

2 year

No Change

5.07%

4.69%

3 year

-0.15%

4.84%

4.69%

4 year

-0.10%

5.16%

5.06%

5 year

-0.10%

5.22%

5.12%

 

 

 

 

COMMENTS

  • by John 18/06/2013 12:18:38 PM

    another advantedge advertorial which fails to mention comparison rates.

  • by Lorenzo 18/06/2013 2:32:38 PM

    Typical of Advantege, no mention of $330 annual fee, 75% LVR or the fact you can only split <50% of the loan amount. This makes the product unattractive or not applicable to most borrowers. As a FAST broker I rarely use the white label because of the restrictions and confusing product suite.