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Despite the challenges of a turbulent year on the financial markets, a resurgence of COVID-19, and uncertainty around property prices and ever-increasing rate rises,
La Trobe Financial’s chief lending officer, Cory Bannister, reflects on the opportunities 2022 presented for the lender as it marked its 70th year in business
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SEVENTY YEARS ON, La Trobe Financial can lay claim to an ability to lend through recessions, periods of high inflation, a global financial crisis, changes to credit and lending regulations, and most recently a pandemic. But despite these market changes, one constant has always been the company’s commitment to the philosophy of ‘others before self’, which is just as relevant to the business today as it was in the beginning, way back in 1952.
Bannister says this philosophy has helped guide the core principles of the non-bank lender and driven La Trobe Financial to pioneer lending solutions for underserved borrowers.
Established in 1952 and with $16bn worth of assets under management, La Trobe Financial is one of Australia’s oldest credit asset managers, specialising in credit investment solutions and real estate finance. La Trobe Financial has been a proven and trusted investment partner for institutional and retail investors for seven decades, operating Australia’s largest retail credit fund with over $8.5bn in assets under management and 82,000 retail investors. La Trobe Financial has 6,000 distribution points across its two divisional arms: wealth products are distributed through 2,500 advice practices; and real estate credit finance is distributed through 4,800 brokers. La Trobe Financial employs more than 460 staff over four offices.
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Cory Bannister,
La Trobe Financial
“One of the biggest changes we’ve seen in the market, as a direct response to the complexity and uncertainty of the past few years, is an increased demand for flexible lending and for support of those in the ‘complex credit’ space,” says Bannister.
“This demand has presented a unique opportunity for non-bank lenders, along with brokers, to service those borrowers and market segments that have been left with little credit availability or support at a critical time for the Australian economy.
“Due to the custom and personalised nature of our credit assessments, and our willingness to take the time to fully understand a borrower’s unique circumstances, and then to
Cory Bannister, La Trobe Financial
Bannister says La Trobe Financial’s unique and diverse funding program – a combination of institutional mandates, an active debt capital market program and Australia’s largest retail credit fund (now at $8.5bn, taking total assets under management to $15.7bn) – has meant that the non-bank lender’s access to capital has been largely unaffected by recent volatility in the market.
“There’s no doubt that it’s been a tough year to obtain funding in the markets, but we’ve been thrilled that, because of our funding diversity, we’ve had the resilience to remain in market for our borrowers and broker partners, even during these times of market stress,” says Bannister.
“Our investors are particularly attracted to our long track record as an originator of high-quality mortgage loans.”
La Trobe Financial has a long history of pioneering lending solutions. In 1991, the company wrote the first low-doc loan in Australia. Fast-forward to 2023 and it now offers one of the broadest product ranges of any non-bank lender in the market.
“We continue to write loans based on our ability to look at a scenario and provide a solution for a borrower, and our Credit Fund gives us the ability to do so,” says Bannister.
“Our goal is to work with our broker partners to provide solutions that meet a borrower’s needs. We do not walk away when the scenario is complex or does not quite fit the box; in fact, this is a space where we excel.
“Our broad product range covers SMSF, construction and development finance, bridging, rural locations and larger acreage, international borrowers – both ex-pat and NR – as well as aged care loans and a unique Parent to Child loan [P2C®]. Additionally, our specialised commercial products include innovative solutions such as the self-employed Lite Doc®, catering for borrowers unable to verify their income through usual means, and our Lease Doc product that uses rental income as commercial security.”
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“We continue to write loans based on our ability to look at a scenario and provide a solution for a borrower, and our Credit Fund gives us the ability to do so”
“Our goal is to work with our broker partners to provide solutions that meet a borrower’s needs. We do not walk away when the scenario is complex or does not quite fit the box; in fact, this is a space where we excel”
Despite the challenges of a turbulent year on the financial markets, a resurgence of COVID-19, and uncertainty around property prices and ever-increasing rate rises, La Trobe Financial’s chief lending officer, Cory Bannister, reflects on the opportunities 2022 presented for the lender as it marked its 70th year in business
Despite the challenges of a turbulent year on the financial markets, a resurgence of COVID-19, and uncertainty around property prices and ever-increasing rate rises, La Trobe Financial’s chief lending officer, Cory Bannister, reflects on the opportunities 2022 presented for the lender as it marked its 70th year
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Access to funding remains key
Strong broker partnerships have always been key to La Trobe Financial’s success. “For more than 70 years we’ve been proud of the relationships that we've established with our broker partners, which have helped us to lead the market,” says Bannister.
“We’re constantly innovating and looking for ways to improve the broker experience, and we’re excited to see some of these new initiatives roll out in 2023.
“The human touch is an important part of the La Trobe Financial experience. So we’re making sure to grow our teams to meet the increasing demand for our loan products.
“On the technology side, our ongoing improvements will see new releases in our back office change how we capture data and boost response times. It’s all about creating a system that makes it easier for us to work together with our broker networks.”
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provide an appropriately tailored solution, we’ve been ideally placed to service these segments.
“Automated lending processes have been great for lenders who want to make a square peg fit into a square hole. But there are a lot of ‘round peg’ borrowers out there who still need access to capital.”
La Trobe Financial Services Pty Limited ACN 006 479 527 Australian Credit Licence 392385. The Target Market Determinations for our loan products are available on our website or by calling us on 13 80 10.
La Trobe Financial Asset Management Limited ACN 007 332 363 Australian Financial Services Licence 222213 Australian Credit Licence 222213 is the responsible entity of the La Trobe Australian Credit Fund ARSN 088 178 321. It is important for you to consider the Product Disclosure Statement for the Credit Fund in deciding whether to invest, or to continue to invest, in the Credit Fund. You can read the PDS and the Target Market Determinations on our website or ask for a copy by calling us on 13 80 10.
IN Partnership with
“Our goal is to work with our broker partners to provide solutions that meet a borrower’s needs. We do not walk away when the scenario is complex or does not quite fit the box; in fact, this is a space where we excel”
Cory Bannister,
La Trobe Financial
Established in 1952 and with $16bn worth of assets under management, La Trobe Financial is one of Australia’s oldest credit asset managers, specialising in credit investment solutions and real estate finance. La Trobe Financial has been a proven and trusted investment partner for institutional and retail investors for seven decades, operating Australia’s largest retail credit fund with over $8.5bn in assets under management and 82,000 retail investors. La Trobe Financial has 6,000 distribution points across its two divisional arms: wealth products are distributed through 2,500 advice practices; and real estate credit finance is distributed through 4,800 brokers. La Trobe Financial employs more than 460 staff over four offices.
Find out more
“Our goal is to work with our broker partners to provide solutions that meet a borrower’s needs. We do not walk away when the scenario is complex or does not quite fit the box; in fact, this is a space where we excel”
Cory Bannister,
La Trobe Financial