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La Trobe Financial Services

La Trobe Financial Services

2.1 from 82 reviews · View Statistics

Reviews

2.1

82 reviews
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ACF
ACFRichmond-Tweed, NSW

Horrible

published

I was given a conditional letter of offer. We then met all of those conditions and after a month they hadn't got back to us. They are terrible. Zero customer service or client respect. Stay away!

Transparency
Customer Service
Jerry16
Jerry16AU
  • 6 reviews
  • 3 likes

RE: Investment withdraw REJECTED!!!!

published

Why has Ian not received an answer?, as a prospective investor I would also like a response to his concerns.
Why does this website need 30 useless words?, these additional words are useless.

Transparency
Customer Service
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0.0
(1,234)
Louisa  SA
Louisa SAMetropolitan Adelaide, SA
  • 2 reviews
  • 3 likes

Mortgage Arrears customer care/resolution policy? I don't think so.....

published
Transparency
Customer Service
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ABC67
ABC67Perth, WA
  • 20 reviews
  • 25 likes

Zero Communication

published

Have a Classic Notice account and switched some of the funds to 12 month fixed account. At NO time did La Trobe make contact(each account has an account manager) or disclose the actual maturity date, so you can make an informed decision to reinvest or not. La Trobe state that it is on the original PDS, but leave it up to the individual to advise them in at least 30 days prior to maturity. Seriously, what a shonky way to operate.
Considering it is a financial services company and given all the bad press they have received, you would think they would be more open, honest and transparent????

Application Process
Incentivised ReviewNo
Loan TypeFixed Rate
sentinel88
sentinel88South East Queensland, QLD
  • 30 reviews
  • 40 likes

An example of slowness to the nth degree

published

I am glad I don't have a loan with or applying for one with this company. Our home is on the market and our buyers are unfortunately appying for a loan with them. All inspections have passed. Now we have a second request for an extension. I don't know how many buyers we have missed out on through the slowness of the application process. Applicants beware, do your homework. To cap it all off one of the strengths they spruick on the website is: You guessed it! Fast applications! HA. More like snail processing.

Update: the day after I posted this review our buyers qualified for finance. I think it was coincidental.

Incentivised ReviewNo
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herlinc69
herlinc69Greater Melbourne (Outer), VIC
  • 16 reviews
  • 19 likes

La Trobe struggles in Loan Processes

published

Taking two weeks to process a home loan and still no answer on an indicative offer. Looking at a 46% LVR and still they cannot provide answer on the application for a loan. They seem to struggle with their loan processes, im glad i got approved with Nab and they took one day to process and got an indication offer. Looks like LA Trobe Financial are incompentent.

Transparency
Customer Service

Don’t go with Latrobe it’s Honey trap

published

Honey trap don’t get any kind of loan from them, you will be trap after and before loans, very bad service, very disappointed from Latrobe, please please don’t go with them

Transparency
Customer Service
1 comment
La Trobe Financial Services
Sam G.La Trobe Financial Services
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

Nick
NickSydney Surrounds, NSW

Refinance Loan Application

published

This company is a disgrace after 4 months of paperwork and 2 valuations costing over $1000.00 on a property that i was trying to refinance no one would answer my questions and the staff had no commercial reality. How they could manage millions of investors money is beyond me. I would never recommend these lenders to anyone just time wasters.

Transparency
Customer Service
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Corrine
CorrineSydney
  • 10 reviews
  • 13 likes

Interest rate on smsf loans just horrendous

published

Terrible service. Shocking fees interest rate was put up one extra percent a couple weeks prior to settlement so we were held hostage in having to agree or loose 1000’s which they knew. Worst possible company you could ever deal with. Do not ever borrow money from this lot

Transparency
Customer Service
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Ming
MingSydney, NSW

Perfect service !the best financial company!

published

Latrobe is the best finance company.good service,professional.
They always help you,understand your situation,give you best way to solve your problems. Like family,stand behind you,support you,give you good advice.believe them,never wrong.V!V!

Transparency
Customer Service
Loan TypeVariable Rate
1 comment
La Trobe Financial Services
Sam G.La Trobe Financial Services
Similar opinion? Write a review on ProductReview.com.au!

The reviewer stated that an incentive was offered for this review

IAN
IANGreater Melbourne (Metropolitan), VIC
  • 2 reviews
  • 5 likes

Investment withdraw REJECTED!!!!

published
Transparency
Customer Service
She
SheSouth West, QLD
  • 2 reviews
  • 7 likes

Question Late Fee Calculations

published

Like myself, I suggest all past & present customers question what methodology is used by La Trobe to calculate late payment fees... continuous requests for an answer, see la Trobe been silent & refusing to answer... ain’t we entitled to as borrowers to question any transactions on our statements

Incentivised ReviewNo
2 comments
La Trobe Financial Services
Sam G.La Trobe Financial Services
She
She

La Trobe, no you won’t contact me... iv been asking this question for 18 months with still no answer....

David
DavidSydney, NSW

Never use this bank

published

I have been trying to discharge from Latrobe for over a month now, it has been nothing but hard work. No help given, no answers just la trobe blaming everyone else and holding onto the money for as long as possible to help there interest!
In the mean time I’ve lost out on possible family homes for myself and my wife due to the poor customer service and dis-interest in simply doing there job!
Highly recommend to stay away from this company unless it’s a last resort!
Will be glad never to deal with these people again.

Incentivised ReviewNo
1 comment
La Trobe Financial Services
Sam G.La Trobe Financial Services

David,
We take your comments here seriously. Would you please send us your contact number (in private mode) and we will arrange for one of our Team to call you directly.
Thank you, La Trobe Financial Team

Dennis
Dennis
  • 2 reviews
  • 2 likes

Monthly interest payments on my investment

published

I have money invested in my SMSF and normally get my monthly interest on the 10th or 11th each month. It is now 15th Feb and still no payment? Should I be worried?

Incentivised ReviewNo
3 comments
La Trobe Financial Services
Sam G.La Trobe Financial Services

Dennis,
Thank you for contacting us. Would you please send you mobile number through private mode and we will arrange for one of our investment team to call you.

La Trobe Financial Team

Dennis
Dennis

How do I send it through private mode?

La Trobe Financial Services
Sam G.La Trobe Financial Services
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Zack W
Zack WGreater Melbourne (Outer), VIC
  • 2 reviews
  • 5 likes

Avoid at all costs

published

I highly recommend finding anyone else besides La Trobe to finance your home loan with. Their customer serviceability is abysmal and they have no intention of helping you whatsoever.
Avoid at all costs.

Transparency
Customer Service
1 comment
La Trobe Financial Services
Sam G.La Trobe Financial Services

Dear Zack,
We take these comments very seriously. If you can send us your contact details privately, we can then contact you and learn more as to how we can address the issues you have raised here.
Regards, La Trobe Financial Team

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Page 1 of 6

Questions & Answers

Richard Denton
Richard Dentonasked

I would like to hear of experiences from investors. Good ones if good and if bad why bad. Have any investors lost money with La Trobe?

1 answer
Louisa  SA
Louisa SA

I could never recommend La Trobe to anyone! In my opinion they exploit hard working people who find themselves in vulnerable positions and set investors up to fail, so they can charge massive default rates, admin charges, and wear away any equity the investor may have in their portfolio. The worst lender I have experienced, that is a mainstream lender and registered with AFCA. I owned 2 beautiful period investment properties, fully tenanted, with a mortgage from La Trobe. Following a short period of small arrears their handling of my situation ended with me losing both properties! Not only did they take possession, evict my tenants, they then sold my properties at under market value. They refused to accept my refinance offers and book in settlement, lied to me about the properties having contracts of sale on them. They do not communicate with any accuracy, timeliness or efficiency; I was passed from pillar to post, dealing with multiple departments and people who contradict each others and the companies position and advice. I went from owning 2 properties worth $1.2m property to now being chased for $350,000 because they refused to allow me to refinance, sell to a buyer I found, or sell at market value. I have taken them to AFCA, so they have to answer for their money grabbing, unprofessional, evil conduct. They have shown no morals or standards, of care which is desperately disappointing and in many aspects constitutes unconscionable and misleading conduct. I don't recommend anybody touch this institution. High street lenders are a far better option as they take more care with their customers and their own reputation.

Richard D.
Richard D.asked

I would like to hear of experiences from investors. Good ones if good and if bad why bad. Have any investors lost money with La Trobe?

No answers
CallaSpadeaSpade
CallaSpadeaSpadeasked

“Sam G.” How come you fail to address all negative reviews but are quick to stroke the few positive reviews? I have significant cash to invest but your company attitude to customer communication and an apparent lack of transparency is holding me back. Issues such as withholding deposit maturity dates then charging fees to return an investor’s funds. That’s downright unconscionable.

3 answers
ABC67
ABC67

Do yourself a favour and go elsewhere, these guys are "dodgy" based upon my own experience and now their rates are not so great either. You should subscribe to free service, yieldreport.com.au and then can view all the latest options across a number of sectors. Investments, such as these come under managed funds-mortgages, you will notice that La Trobe, has stopped disclosing their rates, as their yield is deteriorating. Trilogy does offer a similar mix to La Trobe, but better rates and have never missed a return. Be aware, these are mortgage funds and not cash, so there is an elevated element of risk compared to cash, where the rates are virtually all under 1.00%, which does not even keep up with inflation. There are also a number of options in income funds that produce yield from shares, but again the risk is higher.
In these record low interest rates times, yield, is challenging, so the mortgage funds, can be a good option, but make sure you read the terms & conditions and take note of their loans porfolios and the delinquency of borrowers etc. This is an indication of the security of their portfolio at any given time. This is another area where La Trobe are concerning, as they only produce them on time, when things are going well.
Best of luck and hope this helps.

Sam
Sam

So far, every whingeing comment and post I've read about LaTrobe is because people expect them to babysit them when it comes to investments. If you invest for 12 months and you know there is a 30 day notice period, set a reminder for yourself, don't expect LaTrobe to do it for you. Or contact them and ask for a maturity statement, they will give you one. But don't come on here bleating because you gave less than the necessary notice period. Seriously.

MBX
MBX

It is unfortunate to read these apparent negative comments when I have found the company and employees very easy & compliant to deal with as an investor. Some people are just ignorant and don't read T&C's as I have always been aware of the standard 30 days notice, as this is now Govt requirement for any discharge of investment.
I would recommend them!

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