Small lenders announced new fees yesterday

Small lenders announced new fees yesterday, with the ban on mortgage exit fees imminent.

Aussie Home Loans informed InfoChoice that the application fee on its Optimizer range would increase from the current range of $250 to $500 (depending on the product) to $600.

ME Bank announced the introduction of two new service fees; a $150 valuation fee and a $150 solicitors fee.

Greater Building Society announced that it would introduce a $500 application fee on July 1.

Homeloans have taken a different tack and will claw back commissions from brokers if the loan is paid out within a certain number of years.

Source: Banking Day