Specialist lender launches non-resident loan

by Julia Corderoy23 Mar 2015
Specialist lender La Trobe Financial has announced a new investor loan for non-residents. 

The new non-resident loan product is available for both Full Doc and Lite-Doc verification on residential and commercial investments. 

The availability of La Trobe Financial’s Lite-Doc verification methodology with the new product allows foreign nationals to invest with ease in Australian real estate, including fully verified self-employed non-resident applicants who are often under served by the major Australian banks here.

The lender says its decision to launch a product for non-resident investors is very timely, as Melbourne has been ranked as the world’s most liveable city by the Economist Intelligence Unit’s (EIU) liveability survey of 140 cities. Other Australian cities such as Adelaide, Sydney and Perth were also ranked in the top ten in the world, according to the EIU.

“The non-resident loan product further increases La Trobe Financial’s extensive product range, one of Australia’s broadest range of innovative specialist loan products offered by one lender,” said La Trobe Financial’s vice president and head of distribution, Cory Bannister.

According to Bannister, no additional accreditation is required for brokers. In fact, brokers can offer this product immediately to their clients.

“We provide brokers nationally with many opportunities to write more business by expanding or diversifying their loan writing capability into areas they may not have tried before, such as self-employed, Lite-Doc, SMSF, construction, commercial and now new to the market, non-resident,” he said.

“By keeping our forms and processes across all of our loan products consistent, brokers find they can easily write all of our products with ease, increasing their revenue as a result.”