Credit specialist La Trobe Financial has made changes to the loan terms available on its commercial lending products.
The lender announced yesterday that its commercial loans, which include commercial SMSF products, have been extended to a 25-year loan term.
The product is particularly relevant for loans relating to commercial securities intended to be held long term such as warehouses, light industrial, offices, and retail shops and mixed use, according to a company statement.
La Trobe Financial is offering the 25-year term as a standard option on both its commercial SMSF loan product and on all loan products where the security is owner-occupied.
“The long term, P&I servicing loan profile is significant in complementing the breadth of the commercial lending program,” La Trobe Financial executive head of credit-commercial lending Steve Lawrence said.
“La Trobe Financial knows that in order to be a ‘one-stop shop’ for specialist commercial lending, its fundamental to be able to offer a product range covering all of the typical deals brokers see,” he said.