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loans.com.au Refinance SMSF Home Loan

Advertiser disclosure
Rate
3.69% p.a.
Comparison Rate
3.70% p.a.
Service fee
$0.00
Upfront fee
$220
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Mozo editorial review loans.com.au Refinance SMSF Home Loan - last updated: 22 September 2021

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What's hot
  • 3.69% p.a. variable rate (3.70% p.a. comparison rate*)
  • Free extra repayments
  • No ongoing fees
What's not
  • $220 valuation fee
Mozo snapshot

If you’ve purchased an investment property to fund your retirement, this loan offers an opportunity to refinance your SMSF loan and save. It comes with a 3.69% p.a. variable rate (3.70% p.a. comparison rate*), available on loans between $50,000 and $1 million. What’s more, borrowers won’t have to worry about any ongoing fees, and additional repayments can be made without incurring any penalties.

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Key features

The Refinance SMSF Loan comes with a variable interest rate of 3.69% p.a. (3.70% p.a. comparison rate*) and very little in the way of fees. As the name suggests, the loan is only available to refinancers, so you must already have an SMSF loan through another lender.

You’ll be able to apply online or by speaking to one of loans.com.au’s Australian-based lending specialists. Some of the documents you will need to have on hand include:

  • Your recent Super Fund Statement

  • Evidence of rental income

  • Previous independent legal advice

  • 6 months statement of the loan being refinanced

  • Certified copies of SMSF Trust Deed and Property Trust Deed

Depending on your application, you’ll be able to borrow between $50,000 and $1 million, with loan terms ranging up to 30 years. Repayments can be made weekly, fortnightly or monthly, and extra contributions are allowed, giving you the chance to pay down your loan ahead of schedule.

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Who is it good for

This offering from loans.com.au could suit those who feel they’re not getting the best value from their current SMSF loan and want to refinance to a more attractive option.

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Any catches

As mentioned above, this SMSF loan is only available to refinancers, and can only be used to purchase residential investment properties. While there are no monthly, annual or ongoing fees, you will have to pay a valuation fee, which usually starts at $220 for a standard property in a metropolitan area in a major city. You will also have to be mindful of any exit or discharge fees charged by your previous lender.

Details

Rates and fees information correct as at 18 October 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

3.69% p.a.

n/a

n/a

n/a

3.70% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$220.00

$0.00

n/a

$0.00

$0.00

Other financial bits

$50,000

$1,000,000

none

80.00%

Features

Investor

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

no

no

none

no

no

$300 discharge fee and $250 discharge documentation fee applicable if loan doesnt go to full term.

none

none

WARNING: This comparison rate applies only to the example or examples given. 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. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

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About loans.com.au

WARNING: This comparison rate applies only to the example or examples given. 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. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.