La Trobe Financial
has announced extensions to the loan terms available on its commercial lending products to 25 years.
Steve Lawrence, executive head of Credit-Commercial Lending at La Trobe Financial, said the lender was looking to better cover the range of commercial needs brokers came across.
“The long term, P&I servicing loan profile is significant in complementing the breadth of the commercial lending program. La Trobe Financial knows that in order to be a ‘one stop shop’ for specialist commercial lending, it's fundamental to be able to offer a product range covering all of the typical deals brokers see,” Lawrence said.
The credit specialist lender is offering the 25 year term as a standard option on both its commercial SMSF
loan product and on all loan products where the security is owner occupied. The product is particularly relevant for loans relating to commercial securities intended to be held long term such as warehouses, light industrial, offices, retail shops and mixed use. However, Lawrence urges brokers to discuss their clients’ particular needs with them, so they can shape deals to meet client requirements.