Definitions for "Application fees"
Fees charged to compensate the lenders internal costs of organising a loan approval.
Fees charged by lender to cover the initial costs with setting up the loan.
Not all banks/lenders charge an application fee so it is worth checking if the lender you choose is one that charges a fee. In some cases, lenders who do not charge a fee offer a higher interest rate. Your First Choice consultant will explains all this to you.