17 November 2014

Peace of mind = peace on earth

If you haven’t already realised, it is now only 39 days until Christmas, more importantly, just 28 working days until it’s pens down for the year for many in our industry.

Whilst it is still business as usual for the moment, it is likely to be a very different feeling in 3 or 4 weeks time when you realise your client needs to settle before Christmas and you still haven’t heard from the bank regarding your client’s loan submission; and to rub salt into the wound, when you follow up with the bank you are told that the application has disappeared into that big black hole. “HARK! the Mort-gage Brok-ers sing...” – or something sounding very similar...

The Christmas rush can be a stressful time for anyone, no more so than for the client wanting to move into their new property in time to enjoy Christmas lunch with their family, or the client looking to consolidate their personal debts and release some equity to pay for the family holiday that has already been booked and the suitcases packed. The pressure generated by clients in these scenarios is huge, and is generally passed onto brokers with full force adding to the stress brokers themselves are already dealing with in their own lives as they too make their planned run into the holiday season.

So, ask yourself this very important question before lodging your applications between now and Christmas:

Will the lender really be able to complete the transaction on time?

At this time of the year this is the most important question for brokers to consider if their client’s expect to settle prior to Christmas. Price is usually secondary to providing the solution during the silly season, and this is where specialist lenders can assist. Whilst not always providing the sharpest rates, specialist lenders provide better communication, faster turnaround times and in La Trobe Financial’s case, certainty of completion offering peace of mind – these attributes are crucial to a smooth, peaceful transaction during what is often a manic time of the year.

So give it some thought, and of course, ask lenders this very important question direct, but be warned, I’m sure you’ll be met with a resounding “yes”, but can they really deliver? How can you be sure? You can’t unless you can monitor the application’s progress from start to finish.

Introducing La Trobe Financial’s Virtual Settlement Room (“VSR”)

La Trobe Financial has recently launched an innovative, industry-leading loan tracking system, the Virtual Settlement Room, which provides real time “back room” access to La Trobe Financial’s Settlement Team and Panel Solicitors via an online communication portal for brokers, borrowers and even the borrower’s representatives (solicitors) allowing all parties to see everything that is happening live.

Stakeholders can track the progress of the application, and can communicate online in “real-time” asking questions and making notes ensuring there is no such thing as the dreaded “black hole”. The VSR also gives brokers (and the borrower and their representatives) the ability to upload documents directly to La Trobe Financial’s Panel Solicitors. That’s right, it removes a link in the chain that can lead to delays; you know, lost documents, forgotten messages, staff on leave, all of the excuses lenders gave you last year for your delayed settlements.

The VSR sets La Trobe Financial apart from other lenders because it gives you (and the client) clear sight on an application’s progress every step of the way ensuring there are no last minute surprises. The VSR combined with direct access to the decision makers in credit makes La Trobe Financial the #1 choice for pre-Christmas settlements.

Register online for login access to the VSR today so you are ready to deliver a peaceful and stress-free experience for your clients with certainty prior to Christmas.

... That's Lending

Best regards,
Cory Bannister, Vice President, Head of Distribution
La Trobe Financial Asset Management Limited

La Trobe Financial is one of Australia's leading independent credit specialist Fund Managers. Its business includes residential mortgages, commercial mortgages, and investment services operating one of Australia's largest Mortgage Funds under AFSL 222213. It employs over 123 staff and has managed over AUD$10Billion covering over 100,000 investment grade assets since inception in 1952.

Copyright 2014 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

The following awards and ratings were given to the Pooled Mortgage Option within the La Trobe Financial Mortgage Fund and may be viewed on our website

Ratings And Awards

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^ Depends on risk grade of Borrower

All loan applications are fully assessed to ensure the loan is not unsuitable and that we meet our responsible lending obligations in accordance with our usual underwriting requirements. All features and interest rates are current as at the date of publication. Conditions, fees and charges apply. 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. The rates of return from the Fund are not guaranteed and are determined by future revenue of the Fund, and may be lower than expected. Investors risk losing some or all of their principal investment. The investment is not a bank deposit.

La Trobe Financial Services Pty Limited - Australian Credit Licence Number: 392385
La Trobe Financial Asset Management Limited - Australian Credit Licence Number: 222213

Terms, conditions, fees, charges and La Trobe Financial lending criteria apply.

1. Zenith's "recommended" rating indicates that it has high confidence in the manager meeting its objectives. The Zenith Investment Partners ("Zenith") ABN 60 332 047 314 rating referred to in this document is limited to "General Advice" (as defined by section 766B of Corporations Act 2001) and based solely on the assessment of the investment merits of the financial product on this basis. It is not a specific recommendation to purchase, sell or hold the relevant product(s), and Zenith advises that individual investors should seek their own independent financial advice before investing in this product. To view the relevant research information, please visit www.latrobefinancial.com The rating is subject to change without notice and Zenith has no obligation to update this document following publication. Zenith usually receives a fee for rating the fund manager and product against accepted criteria considered comprehensive and objective.
2. SQM Research - 4 stars to 4.25 stars - superior, suitable for inclusion on most Approved Product Lists. To view the relevant research information, please visit www.latrobefinancial.com This rating will not take into account your, or your clients' objectives, financial situation or needs. It is up to investors to consider whether specific financial products are suitable for your objectives, financial situation or needs. Research houses receive a fee from La Trobe Financial for rating the product.
3. Lipper Leaders Rating Total Return (Score – 5) Lipper Ratings for Total Return reflect funds’ historical return performance relative to peers. The ratings are subject to change every month. The highest 20% of funds in each peer group are named Lipper Leader or a score of 5 for Total Return. Lipper Leader ratings are not intended to predict future results and does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Thomson Reuters Copyright, All Rights Reserved.
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