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Advantedge reduces variable rates to 4.63pc

by Staff Reporter10 minute read

Advantedge Financial Services has announced a temporary discount of 0.10 per cent on new full-doc variable rate loans.

The offer applies to loans of at least $200,000 with a maximum LVR of 80 per cent that are approved by 30 January.

The new discounted rates start from 4.63 per cent for loans with a value of $500,000 or more.

Advantedge white-label products are available to PLAN, Choice and FAST brokers, as well as other business partners.

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Advantedge Distribution general manager Brett Halliwell said the rate cuts show Advantedge's commitment to providing sharp rates and high value.

"We are pleased to be able to reward our brokers with an even more competitive price point for variable rate loans, so they can continue to deliver a simple quality product that presents a better lending experience to clients," he said.

"Our white-label offering is continuing to resonate with brokers because of its simple features and great value.

"We expect sustained growth in volumes over the coming year and will continue to pass on the benefits of that growth by rewarding our broker partners with special pricing offers."

Advantedge said it had been experiencing growing demand for its white-label product as the business has brought on new white-label partners.

NAB, which is Advantedge's parent company, revealed last week that brokers under white-label aggregator agreements had climbed 12.2 per cent to 4,691 during 2013/2014.

The bank forecast that it would increase this number to 6,800 by the end of 2014/2015, which would represent additional 45 per cent growth.

[Related: Advantedge cuts fixed rates by 16 points]

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