Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
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 releases new variable rates

newrate value  newrate value
Lucy Dean 4 minute read

A white-label loans distributor has announced "special" variable rates for brokers and a "simplified" pricing structure, following feedback from the third-party channel.

Advantedge announced "special" variable rates for owner-occupier and residential investor principal and interest loans with a maximum loan-to-value ratio (LVR) of 80 per cent and a minimum loan amount of $200,000.

As of yesterday (31 May), brokers can offer new owner-occupier clients an interest rate of 3.74 per cent per annum (p.a.) on principal and interest (P&I) variable rate loans.

New residential investor clients pursuing variable rate P&I loans can now be offered a rate of 4.24 per cent p.a.

Advertisement
Advertisement

The wholesale funder also announced changes designed to simplify its loan pricing structure: variable rate home loans of at least $200,000 will now be priced consistently across all loans, regardless of loan purpose or repayment method.

Brett Halliwell, general manager of Advantedge, commented that the changes reflect broker feedback.

He said: “[T]his new offer is yet another way Advantedge is proving its competitiveness to brokers... We pride ourselves on listening to broker feedback, and implementing changes to make it easier for brokers to do business with us.

“We are further simplifying our pricing structure and rate cards to make things easier for brokers. This, along with our two new special rate offers, will enable better broker outcomes and more effective customer conversations."

[Related: Aggregator limits LVR in light of APRA directive]

PROMOTED CONTENT


White-label funder releases new variable rates
newrate value
TheAdviser logo

Are you a new-to-industry broker in the process of growing your business? Then there’s some great news: The Adviser’s New Broker Academy is back in 2021 and will provide you with essential insights into cutting-edge tools, strategies and processes to fast-track to success. Don’t miss your chance to attend. To secure your FREE place, visit newbroker.com.au now!

newrate value

 

more from the adviser
AFG office AFG-Connective merger unlikely to complete

The aggregator has flagged that delays from the courts in deliver...

money grants Fintech calls for SME Recovery Loan Scheme extension

The non-bank lender is calling on government to extend its SME Re...

boardroom BOQ reshuffles board following ME Bank acquisition

Following the completion of its acquisition of ME Bank, BOQ Group...