By: Kate Miller
La Trobe Financial Services has reported an increase in demand for its commercial security loans.
“Interest has definitely been growing over the last six to 12 months,” La Trobe head of lending Iain Pepper told The Adviser today.
Mr Pepper attributed the increase in demand for its products to La Trobe’s uncomplicated approach to its products and broker partnerships.
“Unlike the banks our criteria and pricing is clear and made available to our entire broker network who don’t need specific commercial accreditation to place a commercial loan with us,” he said.
Mr Pepper said La Trobe’s products also appealed to the end customer.
“With our Express loans allowing self-certification of income to 70 per cent LVR and with rates as low as 9.30 per cent, which includes our cash out product, we are able to offer the flexibility that our customers are looking for.”
Mr Pepper expects demand for La Trobe’s commercial security loans to continue as brokers diversify and “wish to offer a more comprehensive service to their clients” as well as align themselves with lenders who have a healthy appetite to lend in this market segment.