Specialist lender, La Trobe Financial has slashed interest rates on both its commercial and residential loan products.
The credit specialist has announced cuts to its commercial rates by up to 1%. The new rate of 6.99% covers all commercial loans up to $2 million.
Cory Bannister, vice president and head of distribution at La Trobe Financial says they have also implemented a more simplified structure for the product offering, making it easier for brokers to understand.
“We’ve removed the rate tiers on commercial loans to make the product more user friendly for brokers, this combined with our standard Full-Doc, Lite-Doc™ and Lease-Doc verification options and no separate accreditation requirements means we have the easiest to use commercial product on the market.”
La Trobe has also announced an interest rate reduction to their Residential loans of 25bps.