A mortgage funder has today unveiled new rates for its one, two, three and five-year fixed-rate home loans.
Advantedge Financial Services (Advantedge) is cutting rates on its fixed-rate loans, effective today. The group’s one, two and three year fixed-rate loans have been cut by 25 basis points, while its five-year rate has been cut by 10 basis points.
The announcement comes a week after Advantedge reduced variable rate loans by 0.25 per cent.
Brett Halliwell, general manager of Advantedge, said the move reinforced Advantedge’s commitment to delivering sharp rates to its aggregator and broker partners.
“The new rate-cut empowers brokers with a fantastic opportunity to talk to their customers and to deliver more competitive loans, which are ultimately designed to improve the financial outcomes of more Australian home-owners,” Mr Halliwell said.
“White-label lending is now a major lending category in its own right, and Advantedge has been a pioneer in the white label industry, delivering products that are simple, high-value and flexible,” he said.
“Over 85 per cent of brokers now have access to Advantedge’s innovative white label products, and our competitive pricing is one of the key reasons white-label loans are so strongly resonating with aggregators, brokers and customers.”
Today’s rate cut coincides with Advantedge’s announcement that it has strengthened its service offering by giving brokers direct access to scenarios teams and credit managers.
“Our dedicated scenarios team is available to workshop any queries brokers might have, and our credit managers are available via direct phone or email to help with complex deals. We don’t credit score, we manually underwrite every single deal we do so we understand that access to credit is a critical part of our service to brokers,” Mr Halliwell said.
Advantedge is increasingly granting brokers formal approval within a 24-48 hour timeframe, he added.
[Related: Two banks slash rates below 4%]
James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.
He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.
He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.
James holds a BA (Hons) in English Literature and an MA in Journalism.
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