Mortgage brokers to offer borrowers fixed rates from 4.54% through NAB’s Advantedge offering

Borrowers will be able to access a one-year fixed-rate of 4.54% and a three-year fixed-rate of 4.69% through mortgage brokers that operate under NAB’s Advantedge Financial Services platform.

Since 2009, NAB has owned three of the largest mortgage broking business in Australia – PLAN, FAST and Choice under  the umbrella of Advantedge business.

The new rates, among the lowest in the market, are available exclusively through the Advantedge’s home brand fixed rate product suite under PLAN Lending, FASTLend and ChoiceLend and are effective from today, reports Australian Broker Online.

It continues a trend of lenders cutting fixed rates as demand for the product soars to nearly one in three borrowers, according to Mortgage Choice May data.

Today, Westpac will cut its two and three-year fixed-rate home loan rates below 5% for package home loan customers.

Last week HSBC cut its two-year fixed rates for new home loans to 4.59% and its three and five-year fixed rates to 4.79% and 5.09%.

Advantedge has reduced its standard fixed rates on one, three, four and five-year fixed rate terms, with the lowest available rate from 4.54% on a one-year loan (reduced by 0.10 percentage points) and from 4.69% on a three-year loan (reduced by 0.15 percentage points).

The group offers a four-year fixed rate loan at 5.06% and has cut its  five-year fixed-rate term by a further 10 basis points to 5.12%.

“Advantedge is committed to offering fixed rate products available exclusively through the broker channel, which provides brokers with the opportunity to offer their customers some of the most competitive rates in the market,” Brett Halliwell, general manager of Advantedge distribution.

Advantedge product offerings through brokers: