Desktop Valuations Have Arrived
We are excited to announce that from 17 June 2024, desktop valuations will be accepted on select applications across a range of loan products, furthering our commitment to reducing turnaround times, increasing efficiency and reducing costs.
Quicker Valuations, Faster Formal Approvals
Loan applications which meet the following conditions are eligible to be supported by a desktop valuation:
- Residential purchases only
- Purchase prices between $200,000 – $2,000,000
- Maximum LVR of 75% (maximum loan amount of $1,500,000)
- Sale is to be an arm’s length transaction with the intervention of a real estate agent and advertised online
- Risk grades A & B; location grades A & B
- Land sizes up to 5 acres
- Full contract of sale available (no abridged versions), dated within 3 months of the desktop valuation date
- Must not be an off-the-plan purchase, high density property, inner-city location or a rural/resi-rural property
- Must not be a Bridging, Aged Care or International loan
- No more than 20% of the income used in serviceability is from an overseas source
- Short term loans are not permitted. Desktop valuations may only be used for long term loans (principal and interest, and interest only reverting to principal and interest)
By pairing desktop valuations with one-touch credit assessments and income verification via BankStatements.com.au, the pathway to formal approval for residential Full Doc, Lite Doc® and SMSF loans just became even easier.
How Do I Order a Desktop Valuation?
It’s easy. Simply by using your existing account details, log in to the CoreLogic PropertyHub and select Desktop Valuation as the service type.
A Few Things to Note:
- As desktop valuations do not provide a replacement insurance estimate, borrowers will be required to determine their own replacement insurance requirement, but at all times must hold insurance to a minimum of 50% of the property value
- This policy enhancement is subject to any of La Trobe Financial and/or CoreLogic’s desktop valuation eligibility criteria
- La Trobe Financial reserves the right to require a full valuation report in our sole discretion
- Desktop valuations are only valid for 3 months from the valuation date. If a desktop valuation expires, a short form valuation will be required
We’re Here to Help
Our friendly Client Partnerships Team are available to discuss desktop valuations, broker accreditations, lending scenarios and more. Contact them on their phone numbers within the link, or at [email protected]
Terms, conditions, fees, charges and La Trobe Financial lending criteria apply.
La Trobe Financial Services Pty Limited ACN 006 479 527 Australian Credit Licence 392385.
La Trobe Financial Asset Management Limited ACN 007 332 363 Australian Credit Licence 222213.
This publication is for accredited broker use only and is not for distribution to consumers or any other party.
© 2024 La Trobe Financial Services Pty Limited ACN 006 479 527. All rights reserved. No portion of this may be reproduced, copied, or in any way reused without written permission from La Trobe Financial.