Lender extends discount rate offer due to broker demand

by Julia Corderoy23 Jan 2015
Advantedge has announced it will extend its discount rate offer until 27 March 2015. The discount, originally announced in November last year, applied to all new full-doc variable rate home loans with 80% or less LVR and a loan value of over $200,000.

The discounted variable rates start from 4.63% for loans with a value of $500,000 or more. All other loans over $200,000 with an LVR of 80% or less have been trimmed by 10 bps, although the lender has not published what these rates are.

The offer is open to new customers through PLAN Lending, ChoiceLend and FASTLend, as well as Advantedge white label products offered through its business partners.

The offer, which was originally scheduled to end on 30 January, has been extended due to overwhelming demand.

“We have received an unprecedented level of interest from brokers in the discounted rates, so we are pleased to be able to extend this offer and continue providing our broker partners and their customers with competitive rates,” Brett Halliwell, General Manager of Advantedge Distribution said.

Halliwell said the wholesaler will continue to structure unique and competitive offerings for brokers in 2015.

“The enduring growth in our white label loan book, combined with the strength of our AArated balance sheet, gives us the edge to ensure the brokers we work with are one step ahead of their competition in terms of the value they can offer clients,” he said.

“We will continue to listen and respond to broker needs through our product offering and service proposition, extending exclusive deals to brokers.”