Residential & Commercial Specialist Lending
At La Trobe Financial, we know high performance, and understand that high performance should be recognised. Our residential Performance Plus Loan is a full-featured loan that caters for purchase, refinance (incl. debt consolidation), cash-out and business/investment purposes, and importantly, rewards borrowers for performance via an annual interest rate rebate.
This product is exclusive for direct retail clients only.
|3||reasons to deal with
La Trobe Financial
for your loans ...
Good Value for Money
No Risk or Equalisation fees ≤ 80% LVR
|Product Name||Full Doc||Lite Doc®|
|Current Rate (owner occcupied)^||3.49% p.a. variable (effective rate of 3.29% p.a. if performance + rebate earned)||4.49% p.a. variable (effective rate of 4.89% p.a. if performance + rebate earned)|
|Current Rate (investment)^||3.99 p.a. variable (effective rate of 3.79% p.a. if performance + rebate earned)||5.09 p.a. variable (effective rate of 4.89% p.a. if performance + rebate earned)|
|Security Type||Residential Security||Residential Security|
|Loan Purpose||Any worthwhile purpose (incl cash out)||Any worthwhile purpose (incl cash out)|
|Verification Required||Last 2 pay slips and employment reference or last 2 years financials||Accountant's certification & Borrower declaration|
|Personal or Business/Investment Purposes||Both||Both|
|Minimum Loan Amount||$100,000||$100,000|
|Maximum Loan Amount||$1,000,000||$1,000,000|
|Lenders Mortgage Insurance required||Yes ≥ 80% LVR||Yes ≥ 80% LVR|
|Maximum Loan Term||30 Years||30 Years|
|Repayment Type||Principal & Interest||Principal & Interest; and Interest Only|
|Maximum Interest Only Term||n/a||5 Years reverting to P&I (+0.30% p.a. step up to interest rate)|
|Interest Rate Type||Variable||Variable|
|Redraw Available||Yes (no charge)||Yes (no charge)|
|Application Fee (excl. Val. & Legal Fees)||$995||$995|
At the end of every month, if your account is up to date we will rebate interest charged equivalent to 0.20% p.a. to our 12 Month Term Investment Account (currently earning 5.05% p.a.) held in your favour. The rebated amounts will accumulate each month and earn additional interest for you until you choose to redeem it (annual option to redeem on 1 November each year).
Each year on the anniversary of your loan, if your account was maintained satisfactorily for the previous 12 month period, an amount equivalent to interest charged at 0.20% p.a. will be rebated to our 12 Month Term Account (currently earning 5.05% p.a.) held in your favour. This amount may be redeemed or left to accumulate each year in order to build your investment.
Each year on the anniversary of your loan, if your account was maintained satisfactorily for the previous 12 month period, an amount equivalent to interest charged at 0.20% p.a. will be rebated to your loan account which may be accessed via your redraw or left as "ahead repayments" reducing future interest charges.
CONSUMER ADVISORY NOTE
Maximum loan amounts and LVRs may vary based on security offered
* The comparison rate is based on secured credit of $150,000 and a term of 25 years. WARNING Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees and cost savings such as fee waivers are not included in the comparison rate but may influence the cost of the loan. Terms, conditions, fees, charges and La Trobe Financial Lending criteria apply.
^ Depends on the loan amount and risk grade of borrower.