Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
White-label funder announces pricing and policy changes
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

White-label funder announces pricing and policy changes

changes policy changes policy
James Mitchell 2 minute read

A major bank-owned mortgage funder has today unveiled a range of pricing and policy changes following feedback from brokers.

Advantedge said that some of the changes to its credit policy make it easier for customers to provide brokers with verification for casual income, bonuses and self-employed income.

Minimum employment periods are updated and construction loans are enhanced with an adjustment to the funds release schedule, and one less inspection is required during construction.

“The white-label broker sector is evolving, and brokers now want more than just a competitive price,” Advantedge general manager Brett Halliwell said. 

“Advantedge is transforming to ensure we continually deliver superior product and service offerings to brokers and their customers.”

Advertisement
Advertisement

Advantedge has also withdrawn its Combo Fixed Rate Product for new applications, enhancing flexibility for customers who wish to take out a mix of fixed and variable rate lending. Customers can now fix any proportion of their overall lending and take advantage of the same competitive fixed rate.

The number of products appearing on aggregator software will reduce dramatically as a result of this change.

Advantedge has also made changes to its rates in conjunction with closing the Submission Quality Discount Program which was available to selected brokers.

The changes to rates are:

- Reducing one-year fixed rates by 0.10 per cent p.a. and five-year fixed rates by 0.20 per cent p.a.

- Increasing four-year fixed rates by 0.50 per cent p.a.

- Reducing all carded variable interest rates by 0.05 per cent p.a., in conjunction with removal of the Quality Discount Program.

Mr Halliwell explained that brokers have asked Advantedge to make things easier and more transparent, and to simplify its pricing structure.

“With these changes, brokers can confidently quote competitive carded rates to their customers,” he said.

"We’ve listened to our brokers, and these changes demonstrate our commitment to working closely with our broker and aggregator partners to help their customers meet their home ownership goals.”

“Advantedge is keen to grow its business, and we continue to accept all new applications for owner-occupier and investor lending, in line with our policies.”

[Related: Major aggregator white-label offering surges 44%]

White-label funder announces pricing and policy changes
changes policy
TheAdviser logo
changes policy
James Mitchell

James Mitchell

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.

 

FROM THE WEB
more from the adviser
tick document ta Conversion rates increase despite credit crackdown

An increasing number of loans lodged by brokers are progressing t...

court gavel ta Identity theft ring responsible for multimillion-dollar fraud

ASIC and the AFP have begun court proceedings against suspected m...

SME broker bootcamp How brokers can help support SME clients grow

Helping SME clients secure finance is one aspect of a finance bro...