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Funder slashes variable rates

A wholesale funder has cut its variable-rate home loans by 10 basis points.

Advantedge yesterday announced a discount of 0.10 per cent per annum on all new full-doc variable rate home loans approved by 30 January 2015, with 80 per cent or less LVR and a loan value of over $200,000.

The new discounted rates start from 4.63 per cent per annum for loans with a value of $500,000 or more.

The offer is open to new customers through PLAN Lending, ChoiceLend and FASTLend, as well as Advantedge white label products offered through its business partners.

Brett Halliwell, general manager of Advantedge Distribution, said the new pricing offer continued Advantedge’s commitment to offering sharp rates and high value to its white label partners.

“We are pleased to be able to reward our brokers with an even more competitive price point for variable rate loans, so they can continue to deliver a simple quality product that presents a better lending experience to clients,” Mr Halliwell said.

The new offer comes off the back of growing demand for the Advantedge suite of white label products, as the business continues to see strong growth in its loan book and bring on new partners in the white label space.

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Mr Halliwell said it remained important for Advantedge to ensure brokers share in the business’s successes.

“Our white label offering is continuing to resonate with brokers because of its simple features and great value,” he said.

“We expect sustained growth in volumes over the coming year and will continue to pass on the benefits of that growth by rewarding our broker partners with special pricing offers.”

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