Fees Associated with Loans

Establishment Fee
This is a fee that some lenders charge to set up your loan. The account establishment fee is a once-off fee that covers administrative and system costs for your loan.

Application Fee
The application fee is a fee charged by the lender in order to cover the initial costs of processing a loan application. You usually only see this cost associated with a home loan.

The application fee may include the cost of obtaining a property valuation, a credit report, and other costs associated with a home loan application process. In some cases, these fees may be charged separately, and the application fee charged as a stand-alone fee.