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.
This company are rude and arrogant, BEWARE!!! they care nothing for customers I was told they cared nothing for me that their investors were paramount and as I had a loan they would take my home/farm I told them I would appeal to the banking ombudsman and was told they don't fall under them.. But I'm no fool the financial ombudsman got them for me they hit you with fees, fees, fees please BEWARE and don't deal with them that way you won't get burned...
Stay away you have been warned!
Loan sharks full stop. From the highest interest rates that they kept putting up all the way to taking money at the lower end. First time I've ever heard of a "bpay fee" and it was through this company. They will ramp up their prices form solicitor fees to made up fees like electronic file fee ect ect just to take your money, more than they are untitled to!! I cannot stress enough for people to stay away form this group, I think loan sharks is a term that does not even begin to describe how terrible this group is. I set up direct debit payments...to avoid the made up "bpay fee" and they kept charging me a direct debit dishonor fee, I contacted my bank as La Trobe told me it was an error on their end, my bank sent me the documents and it said they kept trying to take the money out using the banks name instead of my name which I filled out on their form. They then would not refund me the direct debit dishonor fees sticking to the line "its your bank its not us". I got the conformation report in front of me!!!! Guys I would love it everyone steered clear of these guys so that they go under. The less of these institutions out there the better our economy and society will be as these type of companies are completely pillaging the average house hold. Just goes to show you how inaccurate and corrupt Money Magazine awards are as they have allegedly voted this group as the winner. How could they vote this company in when there are companies out thee offering no monthly fees, no annual charges and 2% interest less than La Trobe, and they do not have made up crap like "bpay fee" and electronic file fee ect. I could go on all day how terrible this company is, but you've been warned. And they will create accounts and write reviews on these online forums like [name removed] which is complete crap, don't fall for their marketing tactics guys it is them writing the review, you simply go online and look at other lending institutions to see how bad these guys really are, they charge you a lenders fee which is a % of the total loan, it is criminal and they need to be investigated ASAP!!!!
Bad choice to go with LaTrobe the RIP OFF!!!!
Since joining LaTrobe about a year & a half ago, which is my BIGGEST regret, interest rates increased before I can make the 1sr installment, not to mention the initial admin & loan fees (nearly had a stroke), then after that interest rates went up like 3 times within a year.
Oh & get this.....They even charge you for making regular loan payments, I need to save myself & refinance elsewhere ASAP!!!!
Extremely disappointed, I wouldn't recommend LaTrobe to my worst enemy.
HOME LOAN WITH LA TROBE
This is the first time I have dealt with La Trobe. I was a little concerned so I read up on them prior to applying in fact even whilst my application was in. My broker was confident from the beginning. He assured me everything is good. I got to speak with Ashley who made sure we had everything in order enabling me to get this loan. Another person was also doing my application also that I did not talk with but a thank you to them also. It put me at ease during this process. I also used this site which helped me a lot. Andrew was in the financia...l side in which I have spoken a few times and he was so helpful. I have had a few questions since and I contacted Ashley and Andrew and I want to say THANK YOU and I hope you will be with me along any journeys I take financially in the future. Thank you La Trobe. 5 STAR RATING WITHOUT A DOUBT to anyone out there reading this apply to LaTrobe
I needed to get a home loan settled fast and I didn't give La Trobe much time to do everything.
Other banks wouldn't take on the loan so I was I was running out of time.
It took some time to get through the valuation and approval process.
But once we were unconditional, we settled within 48 hours - thanks to Caine and his team.
2 Rate hikes in 1 year!!! Ridiculous loan shark policies should be investigated by ROYAL COMMISSION
I've had my loan with LaTrobe for just over a year. In that time they have jacked up my rates TWICE! The first time they did there was no notice so my weekly repayment was short and I had to pay fees to cover it. The second time they send me a letter saying that "due to increased lending costs" they have HAD to increase my rates. So now I'm paying over $800 a month extra thanks to LaTrobe's "increased lending costs"
I'm self-employed which is why I ended up with LaTrobe in the first place. Re-financing with a major and saving myself close to $1200 a month.
Latrobe, What can I say, they present themselves as so efficient and professional and a leading company to deal with, as you can see they even have staff or brokers or new thrilled customers write glowing reviews about LaTrobe accepting their loan application when others wont. Glowing reviews the way LaTrobe want to be seen so that they can trap more people into their loan agreements, but let me tell you the truth from experience of what happens over time. (like the others on
this site have ...and glowing reviewing newcomers can't).
When ...I used LaTrobe, the late fees were defined as follows: "late payment fee: 5% p.a. calculated per calendar month on outstanding loan balance". When I asked the broker what that meant, he didn't know, I asked the solicitor, he rang them, but there was no one there to answer that question and no one ever rang back. What do you think that means on a million dollar loan? Do you think it means there will be a $50,000 dollar late fee? Well it does, broken down into monthly payments, (5% of loan amount divided by 365 multiply by days of the month, 5% of $1,000,000 = $50,000 / 365 days in the year = 136.9863 x 31days = $4246.57 per 31 day month) and when do the late fees stop? When the 5% fee on outstanding loan balance is paid of course, meaning when you have paid the $50,000 and guess what else it means? There will be a whole lot of other fees charged to your account, a matter of fact those fees will be more than $50,000 a year, that's on top of your monthly payments. So it will cost you more than $100,000 (a lot more) if you miss a payment. As others have said, "Why are these people still in business?" Well I know why because I complained to ASIC and the response was: "There is no requirement at law for the FSP to provide a working example to the consumer (whether verbally or in the loan agreement itself) to show how the fee is calculated". "The Late fee is not an unjust provision in the loan agreement nor is it unconscionable". If there was such a law, a law for the FSP to provide a balance sheet showing all fees and charges to repossession if payments are not met, (especially after you sell your home financed by Latrobe to buy another home, exit fees include, call protection fee: $38,185.40, early repayment fee: $23,865.89. and there's more) Then NO ONE would use LaTrobe financial for a home loan. LaTrobes whole legal structure is designed to trap you the borrower via an instructed broker (with no responsibility) and charge maximum rates and fees and sell your house and use all your equity to pay their charges and leave you with nothing. They should be shutdown. (after being made to compensate all their victims).
Sold my home, la Trobe refused contract & repossessed. Sold at auction to sole bidder & person we had contract with for $120,000 less than contract amount. Off to royal commission with this one.
July 1st 2018 Update: Check your fees & charges
I advise everyone to have your statements, checked. Wrongly applied fees & charges saw my account credited with offer $61,000 over over charged transactions.
September 25th 2018 Update: Calculations of late fee charges
Im sure you will all agree. La Trobe is very quick at applying arrears of any missed...payments, fees & charges to accounts....but what La Trobe doesn’t tell you, is how these arrears are CALCULATED. For weeks now, I have requested them to provide me with the formula or an example to assist with having my statements recalculated, due to having been charged a default rate of 36% pa, instead of the contractual rate of 3%. La Trobe also inflated my loan, by taking a second default judgement on the debt, again another tactic of theirs to inflate my loan before taking possession, of my home & selling it....Ohhh La Trobe I forgot to mention to all your customers the fact that use also then just prior to taking possession, refused a Contract of Sale I sought, in an attempt to get myself out of it. $4531 shortfall of payout, when use had been charging me 36%, obtained a default judgement without effectively having it served, oh yea then to top it off, use ignored a court order, & applied an interest rate, with fees & charges you weren’t entitled to charge me for. I owe use nothing. All default judgements obtained by La Trobe need to be investigated by ASIC.
Staggeringly excellent post approval service
As a broker, a difficult post approval issue came up for a client. With other lenders this would have delayed settlement for least a couple of weeks costing the client over $4000 in penalty interest.
A few phone calls to Caine White of LaTrobe sorted this out in a couple of hours, with settlement now going to take place in just a day or so. Client and myself are overjoyed, and Caine White & Mark Hood of LaTrobe deserve a massive thank you. GIve those guys a well deserved bonus!!
Worst Company I've ever dealt with
Where do I start never in my life have I ever encountered such an unorganized business.
My list is huge firstly we Applied for a loan on an investment property and a rulal property they gave us an indicitive offer of 80% of both homes.
We waited 4 weeks and each day told us your applications would be finalised tomorrow, tomorrow came still nothing another day came still nothing. One week after there tomorrow tomorrow they came back with it no we only lend up to 70% on hectres over 2 Omg seriously. They knew from the start that our purchasin...
Please RUN AWAY from 'LotTroble'
Their rates goes up to 7.44, and will overcharge you $1600 because they can not find your security doc and change the settlement time with your new bank. Another ridicules thing is they only give you maximum 1 hour to settle and do not notice you in advance. Then, you will be late and pay the late fees.
I had a week to complete my finance on the perfect retirement property.together Bryce, Ashley,Caine finalised my finance without any hassles. I have been provided with outstanding professional service by La Trobe. Thank you so much for getting me into my retirement villa. Much appreciated kindest regards Pam
Waits of time
La Trobe is probably the worst loan brokers that I have ever delt with. My family and I put in a loan application and have done everything that has been asked of us to get it but they just keep coming up with stuff to make it so much harder than it should. So after all that we are told by La Trobe that we must wait another day until it can be finalised and that we could get the money for the house that we all so exited for. But no that was to hard. Everyday they would tell us that it will be another day and than those days became weeks and we have had enough. To this very day we are still waiting for it to be signed of by one person. DEFINITELY DO NOT RECOMMEND!!!
Questions & Answers
Currently investing in a 12 month term investment.
What are the possibility on getting monthly or 6 monthly interest payments?
caterina n.La Trobe Financial Services
Thank you for reaching out. Please call our friendly Investment Team Directly on 1800 818 818 and they will be more than happy to assist you with this request.
La Trobe Financial Team
I wish to invest $100000 long term (5 years+) Can i visit your collins st offices as i work opposite? Gary
caterina n.La Trobe Financial Services
Thank you for reaching out. Of course you can visit our office. We are located at Level 25, 333 Collins Street. If you would like to make an appointment with one of our friendly investment team members, they would welcome the opportunity and lock-in a time to meet with you. Please call 1800 818 818.
La Trobe Financial Team
How safe is to invest in the la trobe financial
caterina n.La Trobe Financial Services
Thank you for reaching out. We have been in business since 1952. We have focused on our asset class of mortgages for over 7 decades. We have an experienced team, with over 380 staff with offices in Melbourne, Sydney, Shanghai and Hong Kong. We have a track record of performance and one of our flagship products - our 12 Month Investment Term has been judged by reputable finance journal, Money magazine as the Best Credit Fund - Mortgages for 11 Years in a row. We have also recently been rated "Superior" by Australia Ratings for our operational capability assessment, and we are very proud of this report as it reflects all the hard work dedicated by our staff. To learn more, we invite you to visit our website www.latrobefinancial.com and you will find further details on our background, investment products and our rating reports. You may also wish to consider speaking to a financial planner.
All the very best,
La Trobe Financial Team
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