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Lender cuts fixed rates for third time in three months

Advantedge Financial Services has announced reductions to its one and two-year fixed rate terms.

The available rates include 4.44% on a one-year loan and from 4.59% on a two-year loan and are available only using a combination of product options and loan features.

The rates are available exclusively through Advantedge’s home brand fixed rate product suite under PLAN Lending, FASTLend and ChoiceLend and effective from today.

Full Doc Fixed Interest Rates effective Monday 5 August 2013

Fixed Rate Term Rate Change (p/a) Full Doc Standard (p/a) Discounted Rate*With combo, Low LVR and Low Rate Option (p.a)
1 Year Fixed -0.10% 4.82% 4.44%
2 Year Fixed -0.10% 4.97% 4.59%
3 Year Fixed No Change 5.07% 4.69%
4 Year Fixed No Change 5.44% 5.06%
5 Year Fixed No Change 5.50% 5.12%

* Discounted Rate option includes the following discounts:

– Combo discount: -0.15% p.a. (Applicable where _50% of the total loan facility is fixed);

– Low LVR discount: -0.13% p.a. (Applicable where total loan facility is _ 75% LVR and total loan facility is _ $200,000); &

– Low Rate Option: -0.10% p.a. ($330 Annual Fee applies).

Brett Halliwell, general manager of Advantedge Distribution, says the rate reductions are a

direct result of Advantedge’s ‘continual commitment to providing brokers with a market

leading product offering’.

“This competitive pricing is supported by our commitment to delivering on our promise to provide competitive and market leading products for our brokers and their customers. Our white label model means we have the flexibility to offer competitive rates exclusive to our brokers across FAST, PLAN and Choice. The decision to reduce our one and two-year fixed term rates by -10 basis points is our third fixed rate reduction in the past three months.”

 

DISCLAIMER: This disclaimer is a requirement of the Securities Industry Legislation Act. The writer of this article is not a practicing lawyer or financier. The information, statements and opinions expressed are intended only as a guide as to some of the important considerations to be taken into account relating to property investment. I strongly suggest that you consult with licensed professionals such as accountants, Lawyers, Valuers, Development Consultants, Quantity Surveyors and others, BEFORE signing any contracts or other binding documents.