Just days after Westpac, CBA and Homeside cut the interest rates on their respective two-year fixed rate home loan products to 4.99 per cent, one lender has released an even sharper rate.
Yesterday, Advantedge reduced the standard fixed rates on its one-, two-, four- and five-year terms by 20 basis points.
The lender now boasts a 4.79 per cent two-year fixed rate home loan, the lowest rate ever offered by Advantedge.
The available rates, including the one- and two-year fixed rate of 4.79 per cent and the 5.41 per cent four-year home loan, are open to all brokers who aggregate under FAST, Choice or PLAN.
Brett Halliwell, general manager of Advantedge Distribution, said the move stemmed from Advantedge’s ongoing commitment to providing brokers with competitive products and rates.
“Advantedge is committed to offering fixed rate products, available exclusively through the broker channel, that are ahead of the pack,” he said.
“Our release today of fixed rates from 4.79 per cent per annum comes during a week when many of our competitors are doing cartwheels about releasing 4.99 per cent per annum fixed rates, which we did way back last October.
“We’re constantly listening to broker feedback and working hard on improving our offering to give our brokers and their customers the product, price and service offering they deserve.”