A mortgage is simply a debt secured by a registered charge on real estate. It is a promise by the borrower (mortgagor) to pay the the lender (mortgagee) a certain amount of money on stipulated terms and conditions. A mortgage is registered in the Land Titles Office and cannot be removed other than with the consent of the lender or by a court order.

If you have any questions, send us an email or fax 03 51 771 677, or call 1800 707 707, 8.00 am to 6.00 pm weekdays. We will be happy to answer all of your questions.

A Comparison Rate is an indicative interest rate, which helps consumers identify the 'true cost' of a loan. It is a rate that is calculated taking account of both the interest rate and the fees and charges relating to a home, personal or car loan product, reduced to a single percentage figure for a model loan amount and term. In one of the examples above, the rate for the first year is 6.69% and its Comparison Rate is 7.17% (for a loan of $150,000 over 25 Years).

A Comparison Rate only includes fees and charges that are definitely payable under the loan contract, for example, establishment and monthly fees. It does not include those that are 'event based', which may or may not be payable during the loan term, for example, redraw, switch or early termination fees. The Comparison Rate also does not include government and statutory fees, as these fees are standard, regardless of the type of loan or lender you choose.

Flexibility
La Trobe Financial is accepted as the leading player in the non-Bank lending space in Australia. We are not a 'tick the box' type lender, but will consider all of your personal circumstances fairly and compassionately. You can also choose the length of your loan that best suits your needs, with our flexible repayment schedules from 1 to 40 years. We also provide a free redraw service for your repayments received ahead of schedule.

Approachable & Reasonable
We specialise in mortgage loans for any reasonable purpose and helping people with debt consolidation. So if you need a mortgage loan from as little as $5000 up to $5 million, or simply need to get your debts under control, we can help.

Fixed or Variable Repayments (ability to switch)
You can fix your loan repayments for up to the first 5 years of the loan, so you will always know what your repayments are. This makes it much easier for you to budget. You will have the option to re-fix thereafter or simply take out a low variable rate from the beginning.

Simple Application Process
Call 1800 707 707 now or fill out an Application form today. It only takes 15 minutes to apply for a Mortgage Loan at La Trobe Financial; it's that simple. And if you need a hand completing the application, just ask one of our friendly Personal Mortgage Finance Representatives - they'll be happy to help.

Fast Approval (On-The-Spot)
We can often tell you On the Spot whether your application for a Mortgage Loan has been approved.

Personal Service
You won't be talking to an answering machine at La Trobe Financial. With La Trobe Representatives across Australia, and our 1800 707 707 National Mortgage Hotline open 8am to 6pm Mon-Fri, you will be personally assisted with your Mortgage Loan application from start to finish. Simply call - you don't need an appointment to speak to any of our Sales Team.

La Trobe Financial is an actual lender, registered Credit Provider, and operates in each state and territory in Australia. Like a Bank, we lend our money from our company balance sheet or from our separate Mortgage Fund on our specific, yet flexible terms.

We source funds from our Mortgage Fund which is the single largest Fund of its type in Australia, and eleventh overall in size, Investment Banks, Insurance Companies, and in some cases Commercial Banks, both here and overseas.

Because we are not a Bank, we do not have expensive branch networks and can therefore benefit from operating at a reduced cost base. It is also important to note that we are not Brokers who act merely as sales agents and collect commissions for their work. La Trobe Financial is a flexible, near-bank balance sheet Lender ("it's our money"), so you are talking directly to the credit provider when you speak with La Trobe Financial.

It really depends on what suits you best. Fixed rates give you certainty so you know exactly what your payments are going to be (during the fixed period), but the rate can be a little higher than our current variable rate depending on the fixed term chosen. With a variable rate you are affected by the Reserve Bank and market changes, so your rate could go up ... but it could also come down. You should consult with a financial advisor to determine what best suits your needs and circumstances.

Principal & Interest means you make repayments against both the original amount borrowed ('Principal') and the interest charged. Interest-only means that you only make repayments to meet the interest payable (in the short term). You should consult with a financial advisor to determine what best suits your needs and circumstances. Why would I take out an interest only loan? Usually investors choose interest only repayments to maximise the benefits of negative gearing; that is tax benefits. With interest only repayments you do not pay off the principal (ie original amount) borrowed.

Apply by telephone - free on 1800 707 707. Our system allows us to process your application in the fastest time possible, which means we can give you a quick answer.

We can help:

• Short term self-employed
• Self-employed without 2 years completed taxation returns
• Paid Defaults, Judgments, on your credit file on merit
• Currently or recently discharged bankrupt
• Unusual deposit source- no genuine savings history
• Irregular employment history, including contract, seasonal, part time, casual or temporary work
• Receive part of your income as 'cash' money
• Recently arrived in Australia or a non-resident
• Employed for a short period of time
• Large number of debts to consolidate

At La Trobe Financial we focus on how we CAN help you RIGHT NOW.

This is where you have borrowed money to invest (such as buying property) and the income from an investment property (like rental payments) doesn't cover its costs (such as mortgage payments). Get in touch with your accountant or financial advisor to find out more.

Simply download an application form from this site, complete in full and forward it to our office for consideration.

The most important considerations are that you can afford the monthly repayments and that you are a homeowner. The maximum amount you can borrow under a La Trobe Financial Home Loan is $1.5 million and the minimum is $20,000. We'll lend you up to 100% of the value of the property in certain circumstances. If you're self employed, you can take up the Express option, which means we can lend you up to 75% of the value of the property you want to purchase with reduced documentation. If you're not an Australian resident, you can borrow up to 75% of the value of the property you'd like to purchase. The specific amount you can borrow is based on your income, your credit history mycreditfile.com.au, your current financial commitments and the value of the home you're interested in or currently own.

To do your own estimate, calculate what you could borrow.

You will need to provide suitable identification such as a copy of your driver’s licence, credit cards, Medicare card, passport, or birth certificate.

For a FullDoc loan, you will need to supply a copy of your most recent payslips or a letter from your employer detailing your income and length of employment. Different rules apply for Lite-Doc loans and for self-employed applicants. You have the choice to have your accountant verify your income or you can certify it yourself.

If you are a PAYG employee we require copies of your payslip, or a letter from your employer in order to prove your income. If you are Self Employed, we require other proof of income such as Tax Returns or Audited Accounts, or you may choose to apply for a loan on a low documentation basis, and Self-Certify your own capacity to repay the loan. In these circumstances La Trobe Financial will undertake reasonableness testing of what you state as your income. Please contact us if your circumstances are unusual. If you do not have supporting financial information we may still be able to assist with a mortgage. We will consider income from a variety of sources including Salary full time, part time, casual, Self Employed Earnings, Dividends, Rental Income and any other source of regular and recurring income including Pensions but only if it's not your only source of income.

Self certified loans are those where the borrowers confirm their income on a declaration; no other supporting income or financial statements are required. Interest on these loans will be charged at a higher rate. Fully verified loans are those where the borrower proves their income by providing evidence such as group certificates, pay slips, tax returns etc.

La Trobe Financial welcomes prepurchase applications to provide you with the confidence of knowing the maximum amount you can borrow before committing to a particular property.

The 11 things you must know before obtaining your Home Loan through a broker:

1. A broker should have a wide range of Home Loans from a wide variety of lenders, eg. banks and non-banks. The wider the choice, the better the chance of finding the loan that suits you best.
2. Check the qualifications and experience of your broker, even ask for references from previous borrowers. Are they a member of a recognized professional industry body, the MFAA or the FBAA? Have they completed training courses?
3. Ensure your broker is not an agent soley for one lender in disguise. Some lenders now operate as brokers too, so establish with any broker representative exactly what their role is.
4. Make sure your broker discloses all commission and payments received so you can judge whether a particular loan recommendation is being influenced by how much the broker will be paid.
5. Does the broker charge a fee? Many brokers will not charge borrowers for using their service, others will, so enquire about fees at the outset.
6. Ask your broker how the loans they offer are researched and rated. Good brokers should be able to clearly outline their criteria.
7. Ask your broker to provide a formal comparison of any loans recommended including the upfront and ongoing fees and the AAPR (average annual percentage rates).
8. Always do some double-checking to satisfy yourself you've been given unbiased and correct information. Check what service is offered by the broker after the loan is negotiated. Will the broker be available for subsequent loan enquiries? What happens if there is a dispute between you and the lender?
9. Will your broker comply with the Privacy Act to ensure the security of your personal and financial details?
10. Your broker should have professional indemnity insurance. This safeguard will help you in the event of legal action.
11. As a last resort, the independent Mortgage Industry Ombudsman Scheme (1800 138 422) is available if there is a dispute you can't resolve with your broker directly.

Here are the steps, plain and simple:

1. Fill out the easy form or speak to a Home Loan Specialist on 1800 707 707 between 8am and 6pm EST Monday to Friday.
2. We'll ring you back with a status update - this could be a conditional approval.
3. We'll ask you to send us some documents relating to your income and the property you want to buy.
4. We'll do a valuation on the property.
5. Formal approval time - you'll be sent a settlement pack with all the forms you need to sign.
6. You send everything back to our solicitor who ensures all the documentation is signed properly.
7. A date is set for your settlement (our solicitor lets you know what that is).
8. You recieve your money and settle!

Once the application is assessed, whereby credit checks, employment checks (if fully verified), valuations and mortgage insurance is undertaken and lending criteria have been met, the loan is then approved. You will be notified in writing of the approval. Should formal approval not be available a request for more information may be necessary. Soon after approval, you will receive loan contracts from La Trobe Financial's solicitors, you are required to sign and return these, in order for settlement to take place. It is recommended that you have your solicitor or conveyancer check the documents on your behalf. Once our solicitor receives the signed contracts, your loan is booked in for settlement. At settlement, money exchanges between the parties and your new loan is activated. From this date onwards your obligations under the loan contract commence and you are required to make payments as required.

Anything you want, there are no restrictions. Maybe you need to reduce your monthly outgoings by paying off all your debts, leaving you with one lower and more manageable monthly payment. Or perhaps you'd like to buy a new car, boat or caravan. How about a luxury cruise or exotic holiday? What about new windows, or a conservatory, maybe an extension? It really is up to you, as long as it is legal.

Yes there are some properties that are considered unacceptable security some of which are -

• Converted factories or warehouses
• Resort apartments
• Hotel / motel rooms
• Studio apartments that are under a certain size

There is no one rule that deems these as certain; for more detailed information on acceptable and unacceptable security, we recommend that you speak to one of our specialist staff who will more than happy to assist.

Usually 5% but higher if you choose some of our Loan Products.

Yes.

If you have sufficient equity built up in your first home, you'll probably be able to borrow more. During the whole process, your aim should be to keep your home loan percentage to no more than 80% of the value of both properties put together. That way, you'll avoid mortgage insurance and any other restrictions on home loans of 80% or more.

Repayments can be made by a number of methods, with the frequency of repayments being flexible. You can make payments by La Trobe Financial's Direct Debit system (at no cost), BPay, direct salary crediting or repayment book. These repayments can be made weekly, fortnightly, or monthly. Repayment methods other than Quickpay PDC incur costs. Please contact La Trobe Financial on 1800 707 707 to confirm current costs.

With a La Trobe Financial variable or fixed rate loan, simply making your repayments fortnightly instead of monthly not only saves you money, but also cuts years off the term of your loan. You can also increase your repayments or make lump sum repayments (of up to $10,000 in any calendar month without cost) when you have extra cash which will reduce the interest you pay and ultimately reduce the term of your loan.

If you're worried you might have trouble making payments, call our Mortgage Help Desk Team on 1800 620 639 between 8:00am and 6:00pm Mondays to Fridays EST, so we can try to work together to meet your repayment obligations under your Home Loan contract.

Because our loans are so flexible, you can move from a variable rate loan to a fixed rate by paying a renegotiation fee of $500.

Yes. You have the ability to make extra repayments, whether the interest rate is fixed or variable, which can be redrawn at any time without cost.

No. You can redraw any amount up to your total additional repayments with redraw available at no cost to you.

Yes! Do it the easy way! Simply call us free on 1800 707 707, and we will immediately process your application. We already have your details, so this is a straightforward process and we'll send you a cheque assuming your application is successful.

If you come into some extra cash (hurray!) you can pay a lump sum off the variable rate portion of your La Trobe Financial Home Loan. This lets you reduce the original amount borrowed ('Principal') so you pay less interest over the long haul. You can pay up to $10,000 off a variable or fixed rate Home Loan without additional cost.

You should contact La Trobe Financial immediately.

You may be able to redraw payments made in advance of your required monthly payments.

Mortgage Insurance is usually required when the loan is greater than 80% of the property's value (or as required by us as the lender) and is a one off payment.Mortgage Insurance covers La Trobe Financial in the event you default on the loan and the money from the sale of the property is less than the amount owed on the loan. This shortfall is paid by the mortgage insurer to La Trobe Financial, who in turn will look to you for repayment of these funds.

We can arrange Home and Contents Insurance and the premiums are paid weekly, fortnightly or monthly with your loan repayments. Find out more here

It's a one-off Federal Government grant of $7,000, and you're eligible for it if you or your spouse have not owned property before, and plan to live in the home you are using it to buy (even if you aren't buying it together). Federal Government First Home Owners Website

You can grab an application form online by heading to www.firsthome.gov.au and selecting your state, or apply in person at any Office of State Revenue. If you require the funds at settlement you will need to post the original application plus any required identification documents as soon as we tell you your home loan is formally approved.

Send it to:
Mr I. Pepper
Executive Head of Lending
La Trobe Financial
PO BOX 403
Traralgon VIC 3844

No. As long as you're a first-time homebuyer purchasing property in Australia, you're entitled.

The FHOG is available on new or existing homes, as well as for first home construction projects.

No. It's just straight cash! The money could go towards your deposit or for the housewarming party.

Houseboats or mobile homes are not eligible for the FHOG.

You can still be eligible for the FHOG, as long as you satisfy all the eligibility criteria.

For homes in New South Wales that cost less than $500,000, you'll pay no stamp duty, and there are discounts on stamp duty for homes worth $500,000-$600,000. Visit www.ocr.nsw.gov.au for more information. Each State and Territory in Australia has their own website dedicated to First Home Owner benefits:

New South Wales
Victoria
Queensland
Tasmania
Western Australia
South Australia
Northern Territory
Australian Capital Territory

Complete a First Home Plus application form, which you can get from the Office of State Revenue, or from your solicitor or conveyancer.

The minimum you need for a deposit is 3% of the value of the property, plus being able to pay solicitor's fees and government charges (like stamp duty), and a documentation fee. If your deposit is less than 20% you'll also need to pay for Lender's Mortgage Insurance (LMI).

In most cases, you need to pay stamp duty on:

• the purchase price of your home (note some exceptions above for NSW)
• your mortgage (except Victoria, Northern Territory and Australian Capital Territory)
• mortgage registration
• Certificate of Insurance

Different states charge stamp duty on different scales. Check with your State Revenue Office for the rate that applies to you. The good news is that if you're buying your first home in NSW and your property is worth less than $500 000, you don't need to pay stamp duty on the property sale, and if your property is worth more than $500 000 you can still get a discount on stamp duty.

No. If you purchased your home after July 2000 and did not claim the FHOG, you may still be given the grant at the discretion of the Office of State Revenue - it's best to refer to them for further information and eligibility criteria.

• a completed online application form
• two forms of ID
• a signed copy of the contract of sale
• your most recent pay slip or letter from your employer advising what you'll be earning plus your most recent group certificate.

No. Even if this is the first house you're buying, you only qualify for the grant if you're going to live in the property for the full first twelve months.

We suggest you speak with a financial advisor.

Have a look at the rate you're paying as well as the ongoing fees and compare whether your home loan provider is giving you a fair go.

Bringing your home loan across from another lender will normally cost at least something (unless you get a special deal). The costs are generally those of setting up a new home loan, and could include legal costs, fees your current lender may charge and more. That's why it's important to do your sums and make sure there are long-term gains to be made by switching.

If you're switching from a fixed rate home loan, remember that switching before your fixed period ends will generally cost you a Break Cost Fee, so you may not want to refinance until the fixed period ends. Ultimately, it will depend on when it suits you best.

It's as simple as applying - online or over the phone on 1800 707 707 between 8am and 6pm Monday to Friday EST. Once you've got the application in we'll do the hard part by working it through with your existing provider.

It depends on what you're applying for, but this is a rough guide:

• a completed online application Form
• two forms of ID
• your most recent pay slip or letter from your employer advising what you'll be earning plus your most recent group certificate
• your home loan statements from the last six months
• the rates notice for your existing property.

You'll need to pay documentation fees, registration fees, possibly transfer stamp duty (if the borrower or security details change), discharge fees and mortgage stamp duty if the mortgage is being increased.

If you're wanting to bring your home loan over to La Trobe Financial, we'll need to verify the value of the property that will stand as security for the money we lend you.

YES. Do you have multiple debts to consolidate, need to liquidate some equity for future investment or about to make a major purchase? Refinancing may be the option for you.
Make your home loan work harder by accessing the equity in your home and take advantage of unprecedented cheap interest rates. Why pay 12-30% on credit card consumer debt when you can consolidate your debts into one easy payment. Perhaps you have had credit problems in the past which are now resolved, but you are still with a high interest rate loan. You may have sufficiently cleaned up your credit rating and are able to re enter the prime mortgage market and take advantage of our lower rates. Call us we can help.

YES. This is commonly referred to as a 'cash out' in the industry. You may have worked hard to pay off your home loan, or your property increased in value over the last few years. You may be considering diversifying your investment portfolio or purchasing another property. Accessing your equity ('cash out') to fund a deposit for an investment property or to build up your share portfolio, in addition to refinancing the current loan is made simple at La Trobe Financial.
Refinancing is best suited to those who have more than 20% equity in property; although in some cases we are able to access up to 95% of your property value.
Depending on your individual situation, refinancing through La Trobe Financial may result in lower interest rates and repayments than your current lender. Call our experienced Lending team on 1800 707-707 to discuss your scenario and see how we can get more out of your home loan.

Making additional repayments beyond what's required in your minimum monthly repayment is one of the best ways to reduce the total interest paid and term of your loan.
As a rule of thumb, every $1 in extra repayments you make early in the life of your loan saves around $2 in interest over the term of the loan, depending on the level of interest rates.
Consider either one-off lump sum payments when you have spare cash or commit to increasing your regular repayment amount. However, make sure that your loan allows you to make additional repayments without penalty. Fixed-rate and basic (or 'no-frills' loans) often have restrictions on extra repayments or charge a fee for the privilege.

What can we say. Perhaps you have had credit problems in the past and are currently with a non-conforming lender. You may find that you have sufficiently cleaned up your credit rating and are able to re enter the prime mortgage market and take advantage of our standard mortgage rates.

When taking out a loan make sure it offers the flexibility to meet the changing circumstances you will undoubtedly experience over the 10 to 30 years of your loan. The ability to make extra repayments, redraw extra repayments, fix the rate on a portion of the loan, or refinance to another loan if need be are all features to be considered.
Most fixed term and rate loans and some basic loans don't allow you to make additional repayments, or charge a penalty for doing so. Make sure you understand the terms and conditions before taking out your loan. La Trobe Financial loans have this flexibility.

If monthly repayments drop because interest rates have fallen, try to maintain the old repayment levels. This means you will pay off more of the principal with each repayment, reduce the term of your loan and the total amount of interest paid.

Use cash savings to help pay off your loan quicker. Remember the old saying 'a dollar saved is a dollar earned'? If you have a home loan at 7 per cent, every extra dollar you pay off the principal is another dollar you are not paying 7 per cent on each year. If you instead put that extra dollar into a savings account you are only going to earn 2 or 3, perhaps 5 per cent at the most. Therefore putting savings into your loan earns you twice as much as a savings account. These days, redraw facilities available on most standard variable loans allow you to take back those extra payments if needed anyway.

Dividing your minimum monthly repayment into two fortnightly or four weekly payments can reduce the term of your loan in two ways:

• because there are more than two fortnights or four weeks in every month, dividing your original monthly repayment into two or four means you actually pay more over the course of a calendar month.
• when interest is calculated daily, the more frequent repayments result in less interest being charged to your loan over the course of a month.

But watch out. If requesting fortnightly or weekly repayments, make sure you specifically ask your lender to halve or quarter the monthly repayment. Unless you ask them, many lenders these days will just calculate the more frequent repayment on the basis of the minimum required fortnightly or weekly repayment, delivering very little extra repayment advantage.

If you smoke a pack of cigarettes a day, it is costing you almost $3000 a year. Quit, and put the daily saving of $8 or so aside and pay an extra $240 each month off your mortgage. Use our Calculator to see how much you can save and how quickly you'll repay the mortgage (but it won't tell you how much longer you will live as a result).