Thanks to our lender Tony and supervisor sarah We are so thrilled you got us our loan. You worked so hard for us.
We are so thrilled by everything. Couldn't be happier. We can finally buy our family home. Customer service was top notch and easily contactable. Thanks to the whole team for all your hard work.
Avoid, Avoid, Avoid
Terrible lender. Very poor rates and even worse fees. If you want to discharge a variable loan for example, it is 3 x months interest plus about $2k in fees. I'm sure ASIC will have a field day with them at some point.
Worst Financial Institution ever
Be careful of all late payment fees, they are almost the same amount as the Interest charged each month, therefore leaving no way of catching up on any arrears. We had to sell our investment property (brought through our SMSF) due to the accumulation of late fees. Then when we sold we were charged an early discharge fee on top of all the other fees - only sold because of all their fees. They also charge a higher interest rate and then a monthly account service fee.
Worst lender ever! Stay away!
Most disgusting dodge lender. Their rate is always the most expensive. They charge you three month interest if you discharge your loan within the first 5 years, even on variable rate. This is on top of their ridiculously high application fee - almost 1% of loan amount, when you first join them. That's worse than a loan shark!!!
Shop around, there are plenty honest trustworthy lenders out there.
Successfully ruined our chance of getting a home loan
Despite the fact that they were never going to offer us a home loan because it was less than their minimum home loan amount ($100,000) they did a credit check and now other lenders won't give us a loan because of the credit check they did. I would stay well clear of them as they obviously don't care about anyone.
Be aware of the low hanging fruit and things that may sparkle with this crowd.
Been with them for approx 5 years. Started off very well and competitive with our SMSF loan but, it has deteriorated since. Despite a request for a rate review they are refusing to pass on any rate cuts to our existing variable rates currently over 6%. Ongoing account keeping fees and charges are also rife. Claim to have Mum and Dad investors interests at heart and need to maintain their returns. Would do well to remember they also have Mum and Dad clients who feed these Mum and Dad investors. Also claim to have some sort of quarantine from the...pressures that Banks have with regard to rates. The number of operators offering SMSF loans appears to have reduced drastically in this market over time allowing this type of behaviour to occur. Explore every other option....
Great service. They provided support tru phone & prompt reply/calls while opening an a/c. Thanks Senio
I recently opened investment a/c. It took 1 week - much longer than banks - however accounts dept provided great support while opening an a/c. Senio guided me every step of the way, some days he called me twice. Thanks senio, you were very helpful.
Still paying ridiculously high variable interest rate
Made a phone call to see why we are still paying a ridiculously high variable rate of 6.84%.It has not been reduced at all with the previous rate cuts.Only answer i got was they are reviewing the rates and to keep an eye out in the next 3 or 4 weeks.
Would not recommend going with Latrobe at all.very disheartening to deal with.
Never go with Latrobe
Initially put onto Latrobe from a Financial Services company i wish I had never met. I assumed the commissions were greater for them and i have asked Latrobe that no commissions are paid from this loan being taken out, still nothing on this one.
The interest rate has just increased to a hugh 6.77%, currently the RBA have just reduced this to 1%. Loan repayments of a certain value have charges of nearly $1000 which is nearly 10%,. Other packet review fees are for what service, or a fee for doing nothing.
To say am disgusted with Latrobe is an understatement, please keep away from this unethical company.
Not passing on interest rate cut
Called La Trobe regarding last months rate cut, I was told that they had a meeting and some weren't eligible, having another meeting soon and you maybe eligible!
If rates are cut then bank should pass it on, pure greed La Trobe! Very unreasonable to deal with, would not recommend them!
Read the fine print
Have a number of accounts with these guys for deposits, after doing a fair amount of due diligence, as they are a mortgage fund. They boasted that they had sustained their interest rates for several years, even following declines in official rates, which on face value, is comforting. Recently, they reduced they're on call rate, by 12.5%, from 3.2% to 2.8%. Being a "respected" financial institution, you would expect they would be transparent and upfront, with such a significant announcement which diminishes returns, wouldn't you? Well, La Trobe ...has what I would call a very "low key" of making they're announcement. Instead of sending you an email, advising you by way of an account manager or perhaps letting you know on month's end, they simply send you your monthly electronic statement as normal and in the smaller print noting interest rate, they state effective interest rate is 2.8% which I thought was a bit sneaky! When I reached out to them to enquire, they simply ask whether you want to change your investment to a 12 month term. Be cautious, read the small print and keep an eye on these guys, after all, it is your money.
Worst finance experience
I was obtaining finance for my smsf. I am understand a longer and harder due to the complication of it therefore i get my pre approval first ti clear all possible credit requirements. I can speed the the process. Pre approval letter issued.
Since i seeking for full approvals. One new credit requirement come after another. . After 6 weeks proving as much as poosible i still dont have approval.
Don't invest with La Trobe Financial
I had a great difficulty trying to invest a significant amount of money with La Trobe Financial. I posted an application form, certified ID and a cheque for $10 to get the account opened. A few days later I got a call from an account manager advising that everything was fine and I would get the account details the following day. After almost 2 weeks and receiving nothing I followed up with an email requesting advise about progress. At this stage I was informed that my ID document was not adequately certified but the matter would be rectified af...ter I provided additional information. After further follow up by me I was advised that matter was not rectified and I was asked to send new documents. When I responded by email I got an automated reply that the account manager was on leave for 2 weeks. As my investment was time critical due to a term deposit ending, I was not able to invest with La Trobe Financial. Very poor advise, very poor follow up, very poor administrative support and very poor client management. I will not be investing with La Trobe Financial nor would I every consider it again. Better to get .5% less and invest with a reputable bank.
Stay completely away
My broker went through La Trobe an application was filed dec 2018. Took them 2 months to look at it. Ive taken the matter to afca as there is more in relation to the matter i can not mention.
Very happy with La Trobe. They have worked hard to provide great service and support. The staff went out of their way to keep us in the loop regarding the entire loan process and exceeded our expectations.
- Verified customer
Policies & solutions driven, smooth process. Not rate.
Very open minded and responsible lending policy filled the gaps that big fours left. La Trobe Financial has been helping quite a few of my clients to save their settlement, refinance, or building their dream home. Really appreciate your business partnership.
Very good investment
I have money invested with La trobe . I am a construction worker and have not much knowledge of the financial world and its lingo .... they were very helpful and took the time to explain . So far I have earnt so much more intrest than my bank deposits . I will be investing more with them .
- Verified customer
Great home loan experience thanks to staff
We were under some serious time constraints when purchasing 2 investment properties through a unit trust. While initially facing some issues wiwitwiwith financing, some key la trobe team members (Caine White specifically) went out of their way to ensure settlements was pushed through with more than daily check ins with me. This stopped us from being issued with legal proceedings. Friendly and responsive staff can make all the difference in a stressful settlement process.
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Questions & Answers
do you have any offices
caterina n.La Trobe Financial Services
Thank you for reaching out. Yes, we have offices in Melbourne, Sydney, Shanghai and Hong Kong. To view full details, please visit our website and learn more - click here: https://www.latrobefinancial.com.au/Home/Contact
We also have Senior Manger Client Partnerships located in Queensland, Sydney, Melbourne, South Australia and Western Australia. More details for your local contact may be found on our website under partnership managers for both our finance and investment teams, depending on what you are looking for. With kind regards, La Trobe Financial Team.
I was going to invest with this company but now I see all the reviews. Thanks everyone for the warning. I'll stay away.
Latrobe could you please explain why not all variable home loans are entitled to the interest rate cut ? . Why is there a 12 month qualifying period before variable home loans qualify for interest rates cuts and please explain why even then we may not qualify for a cut
Shouldn’t you pass on rate cuts to all variable rate home loans not only certain one ? How can one qualify and others don’t ? Aren’t variable rate home loans the same across the board? Can you Please explain why that is ?
It’s a question many are asking
I’m still waiting on a reply to my question that was posted 10 days ago
I have emailed Latrobe several times asking the same , with no reply
We have 3 loans with them , interest rates have been cut twice and no interest rate cut to any of our loans
Please explain Latrobe Financial
caterina n.La Trobe Financial Services
Apologies, as we did not see this question. Please can you send your telephone number privately and we will arrange for one of our senior Credit Analysts to call you directly. If you can send through the loan numbers as well, so that we can understand the situation before we call you.
Honestly why can’t the answer to my question be written here ? There should not be a situation to understand. If we are on a variable interest rate the rates should drop according to the rate cuts . I’ve been told after a 12 month qualifying period our rates will be reviewed and then there is no promise they will get cut . And if they were to be reduced it would come at a cost to us . Why? So they are predicting another 2 rate cuts before Christmas so this means still no rate cut to our loans . The last 2 rate cuts have not been passed on to us because apparently we do not qualify for a cut . It’s absolutely disgusting the way Latrobe works
Pass on the interest rate cuts to all of your customers , how are families meant to get ahead when your interest rates are so high ?
And your fees for making extra repayments by direct deposit , $2.50 per additional repayment on top of your $15 monthly charge what a disgrace there’s no extra work involved on your end
The $2.50 charge is not even disclosed in our contract but again I’m told it’s a fee Latrobe charge
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