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Non-bank waives fee for custom home loans

by Reporter7 minute read
The Adviser

Liberty has announced that it is waiving the $995 application fee on new residential custom submissions, in a bid to “make it easier for brokers to convert more custom applications”.

The specialist lender said that the promotion applies to all applications for residential mortgages for customers whose circumstances "may fall outside the lending appetite of mainstream lenders", such as short-term employment or an imperfect credit history.

The offer is valid for applications received by 28 February 2017 that settle by 30 April 2017 and has been brought in as a foil to the major banks’ rate increases and tightened lending policies, in a bid to provide “a welcome relief to brokers seeking better alternatives for customers”.

Liberty’s manager of residential operations, Paul Concannon, commented: “At a time when many brokers are considering how they can make 2017 an even more successful year, Liberty is waiving fees, promoting diversification and delivering exceptional broker service.

“Brokers who turned to us for our unique products, flexible approach and industry leading service [last year] will now have even more reasons to work with us in 2017, starting with a $995 saving on new residential custom applications.

“Many Australians start their new year with resolutions to improve their finances through consolidating debt or refinancing for better interest rates or fees. We think this promotion hits the mark for customers looking for extra value.”

Mr Concannon suggested that this promotion may be followed by further offers, stating: “This is just the start of bigger things we have planned for the year as we look to retain Liberty’s status as Australia’s preferred non-bank lender.”

[Related: New CEO for specialist lender]

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