Lender waives application fees

by AB07 Apr 2014
Specialist lender Liberty Financial is extending its ‘No App Fee’ campaign for the rest of the financial year.

This means application fees on its standard full and low doc applications are waived (apart from Liberty Swift, which is an alternative for high LVR borrowers who cannot obtain LMI approval), resulting in savings of up to $1,995.

Liberty national sales manager John Mohnacheff said they decided to extend the fee waiver after an “extremely positive uptake” from brokers.

Liberty also recently announced it is rolling out ApplyOnline, which lets brokers instantly submit deals for immediate assessment. The lender has also reduced its variable prime interest rates, which now start from 4.99% per annum (comparison rate 5.33%).

Other recent lender announcements include Bankwest’s, who declared the $500k to $749k and $750k+ tiers (with a LVR less than 80%) on its Complete Variable Home Loan has decreased by 5bps.

The new rate on the first tier is 4.79% per annum (comparison rate 5.18%) and on the second tier 4.74% per annum (comparison rate 5.13%).

All other tier rates will remain unchanged.

Loan Ave has also decreased its variable home loan rates. Its Basic Range is now 4.99% per annum (comparison rate 5.09%), its Reduced Range is 5.05% per annum (comparison rate 5.14%) and its Everyday Range is 5.19% per annum (comparison rate 5.28%).

And Suncorp Bank has extended its Home Package Plus Special Offer discounts until the end of June, available for loan amounts over $150,000. The bank has capped all new lending LVR at 95%.