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Lender cuts fixed rates by 16 points

by Staff Reporter10 minute read
The Adviser

One lender has said it is ready to handle a jump in volumes after cutting its fixed rates for the second time in four months.

Advantedge Financial Services has cut its three-year, four-year and five-year rates by up to 16 basis points for PLAN, Choice and FAST brokers.

The lowest available three-year rate has been reduced from 4.84 per cent to 4.68 per cent.

The best four-year rate has fallen from 5.16 per cent to 5.06 per cent, while the best five-year rate has dropped from 5.52 per cent to 5.39 per cent.


Borrowers qualify for the discounted rate if their loan is at least $200,000, the LVR is no higher than 80 per cent and no more than half the loan is fixed.

Advantedge Distribution general manager Brett Halliwell said the lender’s operations team is “delivering consistent turnaround times” and is “well-placed to handle the uplift in volume that we expect to receive”.

This is just the latest rate cut from Advantedge, which lowered its one-year, four-year and five-year fixed rates in February.

The lender said the latest reduction had been spurred by growing demand for its white label products, with its white label loan book growing 65 per cent in the past two years.

Mr Halliwell said the white label model meant Advantedge could offer highly competitive rates exclusively to PLAN, Choice and FAST brokers.

“Today’s rate cuts are supported by our commitment to deliver market-leading products for our brokers and their customers,” he said.

[Related: Advantedge extends discounted rate to 80pc LVR]

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