Wholesaler drops rates, 'increases focus on brokers'

by Mackenzie McCarty04 Nov 2013

Advantedge Financial Services (Advantedge) has reduced its variable rates on new loans via PLAN Lending, ChoiceLend and FASTLend – and a continued focus on broker support is a key element at play.

The lowest available rate on loans greater than or equal to $500,000 is now 4.73% p.a. on business below 75% LVR and from 4.80% p.a. on business above 75% LVR. (The above rates apply to new Full Doc).

Effective now, the new rates are available to all new Full doc applications via PLAN Lending, FASTLend and ChoiceLend variable rate product suite.

Brett Halliwell, general manager of Advantedge Distribution, says the move demonstrated Advantedge’s on-going commitment to offer some of the sharpest and most competitive rates in the market.

“The introduction of this new price tier demonstrates we understand writing loans in excess of $500,000 is a competitive sector. We are supporting brokers that attract quality borrowers by providing them a quality, simple loan at a great rate,” says Halliwell.

“Our decision to continually enhance our proposition is based on direct feedback from brokers about what their customers need. We are broker-centric and want to provide brokers under the Choice, PLAN and FAST aggregation platforms access to our attractively priced home-brand products that reward their high volume customers.”

The new variable rates effective this month include:

Loan Amount/ LVR Band

≥$200,000 to <$500,000

≥$500,000

≥$200,000 to <$500,000

≥$500,000

LVR ≤75%

4.83% p.a.

4.73% p.a.

4.93% p.a.

4.83% p.a.

LVR >75% up to

90%

4.90% p.a.

4.80% p.a.

5.00% p.a.

4.90% p.a.

 

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