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Another lender has responded to the Reserve Bank’s cash rate cut by reducing interest rates on its fixed-rate products.
Advantedge Financial Solutions has cut its three-year fixed rate by 45 basis points, its two-, four- and five-year fixed rates by 35 points, and its one-year fixed rates by 20 points.
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The new discounted rate is 4.14 per cent for one year, two years and three years, and 4.34 per cent for four years and five years.
Advantedge has also passed on these discounts for its white-label products offered through its business partners.
General manager of distribution Brett Halliwell said Advantedge’s white-label products are defined by their sharp rates and high value delivered by broker partners.
“Today’s rate cuts underline our ongoing commitment to deliver market-leading products that form a key part of our brokers’ proposition and the value they can offer clients,” he said.
Advantedge expects to announce more exclusive price offerings across its suite of white-label offerings in 2015, which Mr Halliwell said is due to its growth and strong balance sheet.
“As white-label products continue to be adopted by an increasing number of brokers, we are well placed to grow our loan book and pass the economic savings onto our valued broker partners,” he said.
[Related: Major white-label partnership announced]
