Money reveals its 2023 Non-Bank Lender of the Year


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La Trobe Financial has been named Money's 2023 Non-Bank Lender of the Year as part of the Consumer Finance Awards.

In today's world of high interest rates, it pays to think outside the square when it comes to sourcing finance.

Non-bank lender La Trobe Financial is no newcomer, having been part of Australia's lending scene since 1952. It also took out the award for Non-Bank Lender of the Year in the 2022 CFA awards.

consumer finance awards 2023 non bank lender of the year

"We take great pride in remaining steadfast throughout all economic cycles over the past 70 years," says Cory Bannister, La Trobe's chief lending officer.

"Our experience tells us that borrowers simply want three things. They want to be listened to, they want advice and they want a solution.

"In the current environment, with interest rates increasing, living costs rising and traditional banks focused on 'vanilla' automatable credit, the non-bank customer base continues to grow as an increasing number of Australians seek lenders that can provide tailored, commonsense solutions," he adds.

According to Bannister, La Trobe Financial offers the broadest mortgage product suite in the non-bank sector, with options available to suit every life stage.

This sees La Trobe's lending products span everything from prime to near-prime borrowers, residential, commercial and development finance, as well as loans for self-managed super funds, aged care and first home buyers.

Across such a diversified menu, Bannister says that since its inception in the early 1990s, La Trobe's Lite Doc range remains as popular as ever, with options that extend across residential and commercial loans, including construction facilities.

"More recently, our Bridging Loan product has been very popular," he says.

"It caters for consumers that are downsizing, upsizing and everything in between."

Bannister notes demand for the bridging loan has accelerated in the current environment, where a low volume of homes listed for sale is seeing more borrowers opt for the certainty of buying a new property prior to selling their existing home.

La Trobe Financial also offers an Everyday Heroes loan.

It's designed specifically for workers who provide vital community services, such as Defence Force personnel, medical and emergency service workers and police force members. A discounted application fee and interest rate apply to eligible borrowers.

Among La Trobe's other innovative loans is its International Borrower loan, catering for non-resident and expat borrowers looking to invest in Australian property.

Its Parent-2-Child loan offers a way for parents to support their children to purchase a residential property.

La Trobe's Aged Care loan helps to cover a refundable accommodation deposit (RAD) and ease the transition into aged care.

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