6 November 2009

La Trobe Loan Products hit record volumes

"La Trobe's lending desk is noting record loan origination volumes" Head of Lending Mr. Iain Pepper stated to the national sales conference held in Melbourne last week. The volume uptick appears to be the result of stronger demand from brokers looking to place near prime loans in an efficient and timely manner.

Iain emphasized that with long term funding lines now in place until 2016 for new lending, La Trobe is well placed to assist brokers growing needs for an alternative lender to the major banks.

Head of Sales Mr. Kevin Arkell added the four (4) key products hitting all the right buttons for brokers right now are our FDR, Self-Employed Lite, Cash-Out Mortgage, and Commercial Loan products. Details of which are:

Full Doc Residential (FDR) - < $750k
LVR 80%
Purpose Cash-out, Purchase, Refinance
& Debt Consolidation
CRAA Up to 4 defaults <$25k total
Rate From 6.84% p.a. (includes trail commission)4
Term 40 Years
Application Fee 0.5%* (min. $550)
Serviceability Full Doc
Broker Commission - 0.20% ongoing trail.
- Upfront 0.50% no clawback.
* Applies to Prime and Clear Credit only

A Full Doc Residential (FDR) loan up to a 40 year term to 80% LVR without LMI, and credit defaults up to 4 less than $25k in total for borrowers who have proven capacity to repay but experience a life event on their credit file.

Self-Employed Lite Doc - < $500k
LVR 75%
Purpose Purchase, Refinance & Debt Consolidation
CRAA Up to 3 defaults <$15k total
Rate From 8.45% p.a. (includes trail commission)4
Term 40 Years
Application Fee 1.0% (min. $890)
Serviceability Lite Doc (No LMI or BAS Statements required)
Broker Commission - 0.20% ongoing trail.
- Upfront 0.50% no clawback.

Whilst some lenders have withdrawn from self-employed borrowers, La Trobe remains committed to this important segment of our economy, with no BAS statements or LMI required.

Cash-out (Residential or Commercial) - < $1m
LVR 70%
Purpose Cash-out for business or investment purposes
CRAA 1 default <$5k
Rate From 8.90% p.a. (includes trail commission)4
Term 2 Years
Application Fee 1.25% (min. $890)
Serviceability Lite Doc (No LMI or BAS Statements Required)
Broker Commission - 0.20% ongoing trail.
- Upfront 0.50% no clawback.

Our flagship mortgage, the Cash-Out 70% LVR, gives brokers and borrowers greater flexibility to access real property equity up to $1m for broad purposes.

Commercial Loans - < $1.5m
LVR <$1m : 70% ; <$1.5m : 65%
Purpose Purchase, Refinance & Debt Consolidation
CRAA Up to 4 defaults <$25k total
Rate From 8.90% p.a. (includes trail commission)4
Term 2 Years
Application Fee 1.25% (min. $890)
Serviceability Lite Doc (No LMI or BAS Statements Required)
Broker Commission - 0.20% ongoing trail.
- Upfront 0.50% no clawback.

A unique feature of La Trobe's product suite, our commercial loan on a Full/Lite Doc basis is increasingly in demand.

Please call La Trobe on 1800 707 707 now or call your local BDM to discuss further.


Best regards
Iain Pepper




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Iain Pepper
Head of Lending

Iain Pepper is a Vice-President and the Head of Lending for the La Trobe Group.Read full profile here.








La Trobe is one of Australia's leading independent specialist mortgage Financiers. Its business includes residential mortgages, commercial mortgages, and investment services operating one of Australia's largest Mortgage Funds under AFSL 222213. It employs over 145 staff and has raised over AUD$10Billion to assist over 100,000 customers since inception in 1952.

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