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Liberty finalises DEF approach

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Australian Broker | 10 Jun 2011, 06:00 AM Agree 0
Liberty Financial has followed other non-bank lenders in removing DEFs and changing its broker commission structure
  • countrybroker | 10 Jun 2011, 11:21 AM Agree 0
    This is another non bank lender taking a SOFT option. There is an ALTERNATIVE .
    Charge an application fee of say 700.00 ( as an example). If the loan is still in existance after 4 years ( an example) then the fee is credited to the clients loan as a principal payment ( it is the old Bankwest Lite rate example) , if the loan is paidout in the meantime the fee is retained.
    Liberty in particular being a non conforming lender will see and has see a high level of refinance after two years , A broker who uses Liberty will now look at the alternatives which is Pepper !!!!
    Have they really thought all the options through , for me that answer is NO. They have taken the soft option.
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