Advantedge Financial Services has slashed rates to 4.73% for loans of 80% LVR and below– and its management said it is due to broker feedback.
This is a discount to Advantedge’s previous LVR rate discount, which was up to 75% LVR.
The new rates are available from today to all new full doc applications across the PLAN Lending, FASTLend and ChoiceLend product ranges, where the loan is more than or equal to $200,000.
Advantedge distribution general manager Brett Halliwell said the long-term success of the business’s white label product and extensive broker feedback had driven the new rate discounts.
“Demand for this ultra-competitive product range has snowballed, establishing Advantedge as a major player in its own right. By extending the discounts to 80% LVR, our aim is to share our success with brokers and their customers to drive momentum even further.
“Our book has achieved phenomenal growth of 65% during the past two years, by creating an alternative simple product category, maintaining a strong price position and quality service throughout this time.”
The move follows Suncorp
Bank, which recently announced a 1.15% interest rate discount for lending over $500,000 and a 1.2% discount for lending over $750,000. The new rates are 4.84% and 4.79% respectively, and are both available for eligible lending of 80% LVR and below.
Advantedge also recently cut interest rates by one percentage point on its one, four and five year fixed rate terms, putting rates at 4.34%, 5.16% and 5.52% respectively.