The move applies to the $375 application fee for new loans, split loans, internal refinances and the $175 application fee for credit increases. 

Damian Percy, general manager of third party lending said the move could help provide first home buyers and brokers with some extra traction in a slow mortgage market.

“The latest RBA figures show that 2012 was probably the year of lowest credit growth in some decades and December was the lowest month, so in order to help kick things along, we decided to start the year with an application fee-free February”, Percy said.

“As sponsors of the Real Estate Institute of Australia’s Housing Affordability Report, affordability is an issue we constantly track and care about.  For some people currently renting, depending on where they are looking to buy, mortgage payments could actually be less than their current rental payments.  

“We’re hoping that Application Fee-free February will serve as a catalyst for first home buyers weighing up the ‘buy versus rent’ equation and that they’ll go and see what a mortgage broker can do for them.  

“Adelaide Bank’s turnaround times and hassle-free service are well regarded by mortgage brokers and the waiver of application fees for February is just another good reason to see what we can do for you”, Mr Percy concluded.

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