Usually but not always, the fish and chip lenders with "Low rate, no fees" have a weighty % based def.
Its an Interesting terninology.
If you go to one of the banks, on average they will try it on with say a 600 app fee. if you then leave in a year, they will on avrage charge you a DEF of say 1000, so 1600.
take a typical 500 k loan, take it to a lender with a 1 % def in the first year, all of a sudden the cost of making that loan has jumped from 1600 to 5000, PLUS whatever fees they charge on the way in.