La Trobe Financial sets the benchmark in many ways for non-bank lenders. And for La Trobe Financial’s top business development managers, one of the non-bank’s standout features is the extremely broad range of products they bring to the market.
The breadth and depth of La Trobe Financial’s loan products are hard to match in the market, and this is a major strength for the lender’s BDMs out in the field, as it empowers them to make a difference to brokers and a wider range of clients in a diverse and evolving economy.
“Our broad product range covers SMSF; construction and development finance; bridging; rural locations and larger acreage; international borrowers, both expat and NR; as well as aged care loans and a unique Parent to Child loan [P2C],” said Cory Bannister, chief investment officer.
“Additionally, our specialised commercial products include innovative solutions such as the self-employed Lite Doc, catering for borrowers unable to verify their income through traditional means, and our Lease Doc product that uses rental income as commercial security.”
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La Trobe Financial has diverse funding for its products, which means the non-bank can remain resilient in the market for its brokers and customers, despite rising cost of living, stubbornly high inflation, and the Reserve Bank’s aggressive monetary policy tightening.
“We have a unique and diverse funding program – a combination of institutional mandates, an active debt capital market program, and Australia’s largest retail credit fund, which means that we can access capital that’s largely unaffected by market volatility,” Bannister said.
The great thing about La Trobe Financial is that its BDMs are almost never faced with a situation where they can’t offer their client a lending solution.
“We don’t walk away when the scenario is complex or doesn’t quite fit the box; in fact, this is a space where we excel,” Bannister said.
Reece Hinchy, senior manager client relationships in Queensland, said the ongoing growth of origination volume in his state was thanks to La Trobe Financial’s offering and flexibility across 17 products covering residential, commercial, and development finance.
“[The broad range] not only allows me to help diversify and grow the businesses of my broker partners but also assists with fostering long-standing personal and business relationships,” Hinchy said.
He said having the arsenal of lending options at his disposal makes his job all the more enjoyable because this enables him to satisfy – and even exceed – the expectations of his clients.
Hinchy believes brokers would be able to serve the market better if they were trained to use the full range of lines on offer, including residential lending, commercial, development, asset finance, personal loans, business lending, and more.
“[I’d like to see] compulsory broker training across the industry that’s tailored to diversification,” he said. “Ultimately this will lay necessary foundations to deliver best-in-class service to clients, better-quality submissions to lenders, and an overall cleaner end-to-end origination process.”
It’s an ambitious goal that brokers working with La Trobe Financial could realise quite easily, as compared with some other lenders.
“[For] those brokers who are looking to diversify into commercial with us, any broker who has partnered with a major aggregator is automatically accredited to write all of our loan products, which include residential, commercial, SMSF, construction and development, and our credit-skilled BDMs make themselves available to guide brokers through the process if it’s new to them,” Bannister said.
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