Fixed rates from 4.64% as lender announces sweeping deductions

by AB27 May 2013

Advantedge Financial Services (Advantedge) has announced deductions across its entire range of fixed rates, with the lowest available rate from 4.64% on a one-year loan (reduced by 15bps), from 4.69% on a two-year loan (reduced by 10bps) and from 4.84% on a three-year loan (reduced by 15bps).

Advantedge has also unveiled a fixed rate from 5.16% on a four-year loan and reduced its five-year terms by a further 15bps from 5.22%.

The new rates are available exclusively through Advantedge’s home brand fixed rate product suite under PLAN Lending, FASTLend and ChoiceLend and effective from Wednesday, May 27.

Brett Halliwell, general manager, distribution at Advantege, says the group continues to cement their competitive position – and that now is the perfect time for borrowers to lock in a fixed rate.

“I think it’s a really good time for consumers and brokers to be locking in. The RBA rate is about at the lowest it’s been in 58 years…It’s safe to say that fixed rates are the lowest we’ve seen in a generation.”

“The good news on the back of that is, it’s a good time for consumers to think about refinancing and moving across to a good rate. We’ve also noticed a pick-up in the real estate markets. I was reading in the paper this morning that there was a 70% auction clearance rate in Melbourne and I think that’s really reflecting that there are more investors in the market.”