Advantedge offers home loans with no annual fee.

Wholesale lender Advantedge announced its newest offering for consumers: a 0% annual fee on all new loan applications. According to a report for the Australian Broker, this is to help brokers bring more value to their clients.

This offer will apply to all new applications submitted starting 02 July 2018 until 28 September 2018. Advantedge will be waiving its $120 annual fee for the life of the loan. Doing the math, this means that borrowers will be saving $1,200 over a decade of home ownership.

"Highly competitive rates and quality home loan products are central to our white label proposition. By combining these attractive features with quality customer service, Advantedge is empowering brokers to provide the best possible experience to their customers," Advantedge general manager Brett Halliwell said.

This move follows the lender’s decision to offer special variable rates for new owner occupier and investor borrowers early this year at 3.69% and 4.49%, respectively. For this offer, a minimum aggregate loan amount of $200,000 apply, with a maximum loan-to-value ratio at 80%.

Advantage is a financial institution under the National Australia Bank Group and is one of the biggest distributors of white-label home loans.

It is important to note that this promotion does not apply to other loan variations and top-ups.