23 February 2012

La Trobe Financial's new lending rates slashed

We have slashed our new business rates by up to 65bps and increased our LVR limits and loan amounts. Head of Credit - Mr Cory Bannister is responding to the rising demand, and is preparing for healthy settlement volumes in the months ahead. "We anticipate this rate reduction, along with the favourable changes to our maximum LVR limits and loan amounts, will significantly increase our product attractiveness and demand. It is certainly an exciting period for La Trobe Financial".

Some of the recent changes include:

  • Interest rates slashed by up to 0.65%;

  • Express Residential maximum LVRs increased to 80% for all Risk Grades (up from 70%);

  • Maximum loan amount at 80% LVR increased to $1m (up from $750k) for Full doc Residential and Express Residential Lite doc products; and

  • Maximum loan term for Express Credit Repair product increased to 30 years P&I (up from 2 years IO).

Details of our four (4) key products including the above changes are noted below:

Full doc Residential ≤ $1.5m
LVR 80%: ≤ $1m, 70%: ≤ $1.5m
Purpose Cash out, purchase, refinance and debt consolidation
CRAA Up to 4 defaults^ < $25k total
Rate From 7.84% (includes trail commission)
Term 40 years
Application fee 0.5% min. $550 - no risk fees
Serviceability Full doc^
Broker commission - ongoing trail
- upfront commission with no claw back
A full doc residential 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.

Express Residential Lite doc ≤ $1m
LVR 80%: ≤ $1m
Purpose Purchase, refinance and debt consolidation and cash out (10%)
CRAA Up to 4 defaults^ < $25k total
Rate From 8.55% (includes trail commission)
Term 30 years
Application fee 1.0% min. $890 - no risk fees
Serviceability Lite doc (No LMI or BAS statements required)^
Broker commission - ongoing trail
- upfront commission with no claw back
Whilst some lenders have withdrawn from self-employed borrowers, La Trobe Financial remains committed to this important segment of our economy, with no BAS statements or LMI required.

Cash out (Residential or Commercial) ≤ $1m
LVR 70%: ≤ $750k, 65%: ≤ $1m
Purpose Unlimited Cash out
CRAA Up to 3 defaults^ < $15k total
Rate From 8.55% (includes trail commission)
Term 2 years
Application fee 1.25% min. $890 - no risk fees
Serviceability Lite doc (No LMI or BAS statements required)^
Broker commission - ongoing trail
- upfront commission with no claw back
Our flagship mortgage, the Cash out 70% LVR, gives brokers and borrowers greater flexibility to access real property equity up to $750k for broad purposes.

Commercial loans ≤ $1.5m
LVR 70%: ≤ $750k, 65%: ≤ $1.5m
Purpose Purchase, refinance and debt consolidation
(for retail shops, offices and light industrial properties)
CRAA Up to 4 defaults^ < $25k total
Rate From 9.20% (includes trail commission)
Term 2 years
Application fee 1.25% min. $890 - no risk fees
Serviceability Full/Lite doc (No LMI or BAS statements required)^
Broker commission - ongoing trail
- upfront commission with no claw back
A unique feature of our commercial loans is that they are available on both a Full doc and Lite doc basis.

Please call La Trobe Financial on 1800 707 707 today, or call our local Business Development Manager in your State to discuss enquiries further.

Best regards

Iain Pepper


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Iain Pepper
Head of Lending

t  +61 3 5177 1767
e  ipepper@latrobefinancial.com.au

Craig Robertson
National Relationship Manager
0447 599 664
Daryl Hill
National Relationship Manager
0408 566 524
0409 435 559
0421 029 691
0421 029 687
0408 566 518
Steve Lawrence
Senior Commercial Lending Manager
03 8610 2807
Cory Bannister
Head of
0403 361 026
Darlene Musgrove
03 5177 1670
Andrew Mercer
03 5177 1652
Mercy Bvirakare
03 5177 1607
Jimmy Mc Grath
03 5177 1660
Luke Jones
03 8610 2816
Mark Stratton
03 8610 2832
Melissa Greenwood
03 5177 1798
David Ladd
03 5177 1770
Katie Paulet
03 5177 1718
Linda Gorski
Asset Retention
03 8610 2817
Phil Wilson
Asset Retention
03 5177 1656

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.

Copyright 2010 La Trobe Financial. All rights reserved. No portion of this may be reproduced, copied, or in any way reused without written permission from La Trobe Financial. Disclaimer

IMPORTANT: This message, together with the La Trobe Financial website (www.latrobefinancial.com.au) and all its contents have been prepared for general information only and should not be taken as legal or financial advice, and as such the specific needs, investment objectives or financial situation of any particular user have not been taken into consideration. Individuals should therefore talk with their financial planner or advisor before acting on any information present on this message or the La Trobe website. La Trobe Financial Asset Management Limited ABN: 27 007 332 363 and AFSL No: 222213 is the issuer and manager of the La Trobe Australian Mortgage Fund. It is important for you to read the Product Disclosure Statement for the Fund before you make any investment decision. You can get a copy of the PDS by calling 1800 818 818. You should consider carefully whether or not investing in the Fund is appropriate for you. (1) The rates of return from the Fund are not guaranteed and are determined by future revenue of the Fund, and may achieve lower than expected returns. Investors risk losing some or all of their principal investment. (2) The rating report is available on the La Trobe website or upon request. The rating is only one factor to be taken into account in deciding to invest. (3) Withdrawal rights are subject to liquidity and may be delayed or suspended. (4) Rates (where shown) are indicative and for information purposes only and must be confirmed by your La Trobe loan manager upon formal application. Rates are subject to change. Please refer to http://www.latrobefinancial.com.au for full comparison rate schedule. ^All defaults are considered in responsible loan assessment. All loans are fully assessed to meet responsible lending requirments. All features and interest rates are current as at the date of publication.