La Trobe extends commercial loan terms
La Trobe Financial has extended the loan terms available on commercial lending products to 25 years, including its commercial SMSF product.
In a statement released late last week, La Trobe stated the product is “particularly relevant” for loans relating to commercial securities intended to be held long term, including warehouses, light industrial, offices and retail shops.
La Trobe Financial 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 long-term, [principal and interest] 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,” said La Trobe’s executive head of credit for commercial lending, Steve Lawrence.