Wholesale funder simplifies offering

by Madison Utley14 May 2020

Advantedge Financial Services, a NAB-owned wholesale funder, has announced a series of changes intended to simplify its offering so both the broker and customer experience are made more efficient and transparent. 

General manager Adam Brown explained, “We’re [offering] a simplified proposition, a more straightforward pricing model and seamless service through digitising our end-to-end home loan experience.

“The changes will ultimately enable brokers to build stronger relationships with their customers by offering a clearer proposition and more compelling service experience.”

From 25 May, Advantedge will introduce a new, simplified rate card in a bid to show its commitment to more straightforward pricing with the current ≤80% LVR carded special rates becoming the standard variable rates, regardless of loan size.

The group will also cease lending to ‘non-core segments’ such as guarantors, trusts and companies, as well as stop multi construction loans and loans with six or more securities.

“This will allow us to double-down and focus on the needs of majority of customers looking for owner occupier and investment loans. We’ll also continue to focus on servicing PAYG and self-employed customers with loans for existing dwellings, refinances and single builds,” said Brown.

From 25 May, the group will also be introducing a digital Broker Declaration form, eSign in ApplyOnline and Document Verification Service (DVS), thus removing the need for the 100-point ID form.

“We remain focused on making things simpler for the better, enabling brokers to do business with us easier and continuing to support them and their customers during these challenging times. By continuing to evolve our end-to-end experience we can provide quicker and more consistent broker and customer outcomes," said Brown. 

This is the second in a string of enhacements Advantedge plans to announce in a “phased approach” over the coming months.