Non-bank waives home loan application fee to lure FHBs

by Julia Corderoy27 Jan 2015
Non-bank lender, Liberty Financial has kicked off the New Year by waiving the application fee on its Swift home loan product.

Liberty's Swift product, launched last year, offers up to 95% LVR with the full LMP fee capped for borrowers who cannot obtain LMI approval. Now, the lender is waiving the $995 application fee on all applications received by 28 February.

John Mohnacheff, Liberty's national sales manager says the Swift product was designed to provide a real solution for aspiring home owners who were stopped from realising their dreams by system generated credit decisions.

“Credit scoring has been a roadblock for years but Liberty changed this by creating its Swift solution so brokers can rescue deals and keep homeownership dreams alive. 

“2015 will be a big year in our market and we're confident for many reasons that brokers who experience the Liberty difference will find it a more rewarding and successful one too,” he said.
 

COMMENTS

  • by Judy West 27/01/2015 9:34:30 AM

    Well done Liberty! Sounds like a plan... Just hope the interest rate is not loaded to the hilt?

  • by Richard 27/01/2015 10:28:53 AM

    Every time I approach Liberty about a new loan transaction their fees & interest rate are always over the top.

  • by Compared to what 27/01/2015 10:53:09 PM

    Hey Rich,
    Maybe they are cheap if your client is sent the wrong message by broker B grade and Broker A around the corner sees the value proposition and exit to a mainstream lender??