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Liberty has given new borrowers an early Christmas present by vowing to cover all of their upfront expenses including document preparation, title protection and loan processing.
The announcement follows the non-bank lender’s decision to drop rates on all of its residential loan products last month.
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Liberty’s chief operating officer James Boyle told Mortgage Business that the company’s decision to waiver a customer’s upfront fees was a part of their wider business strategy moving into 2010.
“We want our business partners to know that we are serious about writing their business and we are committed to providing solutions to customers who have been impacted by the financial crisis,” Mr Boyle said.
“For example in mortgage lending, brokers and customers are looking for lenders other than banks, but in other asset classes such as Floor-plan financing, borrowers are looking for a lender to fill the void left by finance companies. Clearly there are many opportunities emerging from the recent correction.”
Mr Boyle said enquiry levels and applications to the non-bank lender had nearly doubled since their ‘Enjoy the Experience’ event toured the country.
“The events drew in excess of 1,000 introducers nationally, signaling the return of a recharged sector looking at finance alternatives,” he said.
