Non-bank lender Liberty has today announced that for the rest of the year, it will waive the application fee on full and low doc home loan applications.
National sales manager at Liberty John Mohnacheff claimed this would equate to savings of up to $1,995 for custom clients and $995 for prime clients.
“We’ve seen a surge in electronic submissions over recent months, and that means we are well positioned to help our business partners settle their applications before Christmas,” Mr Mohnacheff said.
Liberty is also reducing risk fees across a number of its loan-to-value ratio (LVR) bands for custom borrowers.
“Liberty was an early innovator in electronic submissions with LoanNET, our loan assessment and submission system. Our recent integration with ApplyOnline means we’re seeing more straight-through processing of applications than ever before,” he said.
The lender’s focus on online submissions typifies a growing trend, with St George Bank also implementing a similar platform earlier this week.