Performance Plus Loan

At La Trobe Financial, we know high performance, and understand that high performance should be recognised. Our residential Performance Plus Loan is a full-featured loan that caters for purchase, refinance (incl. debt consolidation), cash-out and business/investment purposes, and importantly, rewards borrowers for performance via an annual interest rate rebate.

This product is exclusive for direct retail clients only.

Product Details:

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Product Name Full Doc Lite Doc®
Current Rate (owner occcupied)^ 3.99% p.a. variable (effective rate of 3.79% p.a. if performance + rebate earned) 4.99% p.a. variable (effective rate of 4.79% p.a. if performance + rebate earned)
Current Rate (investment)^ 4.29 p.a. variable (effective rate of 4.09% p.a. if performance + rebate earned) 5.29 p.a. variable (effective rate of 5.09% p.a. if performance + rebate earned)
Comparison Rate* TBA TBA
SecurityType Residential Security Residential Security
Loan Purpose Any worthwhile purpose (incl cash out) Any worthwhile purpose (incl cash out)
Verification Required Last 2 pay slips and employment reference or last 2 years financials Accountant's certification & Borrower declaration
Personal or Business/Investment Purposes Both Both
Minimum Loan Amount $100,000 $100,000
Maximum Loan Amount $1,000,000 $1,000,000
Maximum LVR 95% 95%
Lenders Mortgage Insurance required Yes ≥ 80% LVR Yes ≥ 80% LVR
Maximum Loan Term 30 Years 30 Years
Repayment Type Principal & Interest Principal & Interest; and Interest Only
Maximum Interest Only Term n/a 5 Years reverting to P&I (+0.30% p.a. step up to interest rate)
Interest Rate Type Variable Variable
Redraw Available Yes (no charge) Yes (no charge)
Application Fee (excl. Val. & Legal Fees) $995 $995
Risk Fee $0 $0
Additional Repayments Yes Yes

* The comparison rate is based on secured credit of $150,000 and a term of 25 years. WARNING Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees and cost savings such as fee waivers are not included in the comparison rate but may influence the cost of the loan. Terms, conditions, fees, charges and La Trobe Financial Lending criteria apply. ^ Depends on loan amount and risk grade of borrower.

Product Terms:

At the end of every month, if your account is up to date we will rebate interest charged equivalent to 0.20% p.a. to our 12 Month Term Investment Account (currently earning 5.20% p.a.) held in your favour. The rebated amounts will accumulate each month and earn additional interest for you until you choose to redeem it (annual option to redeem on 1 November each year).

Each year on the anniversary of your loan, if your account was maintained satisfactorily for the previous 12 month period, an amount equivalent to interest charged at 0.20% p.a. will be rebated to our 12 Month Term Account (currently earning 5.20% p.a.) held in your favour. This amount may be redeemed or left to accumlate each year in order to build your investment.

Each year on the anniversary of your loan, if your account was maintained satisfactorily for the previous 12 month period, an amount equivalent to interest charged at 0.20% p.a. will be rebated to your loan account which may be accessed via your redraw or left as "ahead repayments" reducing future interest charges.

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Key Borrower Documents: