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Non-bank spreads the love

by Staff Reporter7 minute read
The Adviser

Staff Reporter

One of Australia’s non-bank lenders is feeling the love this Valentine’s Day, cutting its establishment fees.

Yesterday, Future Financial revealed it would waive its $880 establishment fee on all of its standard and self-employed home loans between today and Good Friday 29 March.

The establishment fee traditionally covers the application fee, valuation fee, contract fee or title insurance and solicitors’ professional fees.

Speaking about the new offer, Future Financial’s general manager, Troy McLachlan, said the lender wanted to come to market with an offer that would attract brokers and their borrowers.

"Our industry-high commission, no clawback across our product range and very competitive interest rates provide plenty of opportunity for brokers to place loans outside of the big four,” he said.

Self-managed super fund borrowers and specialist home loans have also not been forgotten, with the respective application fees of $699 and $550 also being waived.

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