La Trobe Financial has cut its commercial rates by 1%, with the new rate sitting at 6.99% for all commercial loans up to $2m.
Meanwhile, the interest rate on residential loans has dropped by 25 basis points this week.
“We’ve removed the rate tiers on commercial loans to make the product more user friendly for brokers, this combined with our standard Full-Doc, Lite-Doc™ and Lease-Doc verification options and no separate accreditation requirements means we have the easiest to use commercial product on the market,” said Cory Bannister, vice president and head of Distribution at La Trobe Financial.