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 5.44% p.a. variable rate (5.45% 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.
The Refinance SMSF Loan comes with a variable interest rate of 5.44% p.a. (5.45% 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.
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.
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.
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5.44% p.a. |
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n/a |
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n/a |
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n/a |
|
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5.45% p.a. |
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|
n/a |
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n/a |
|
|
n/a |
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|
n/a |
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n/a |
|
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n/a |
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n/a |
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n/a |
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$0.00 |
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$0.00 |
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$220.00 |
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$0.00 |
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n/a |
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$0.00 |
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$0.00 |
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$50,000 |
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$1,000,000 |
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none |
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80.00% |
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Investor |
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Principal & Interest |
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Weekly, Fortnightly, Monthly |
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yes - free |
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no |
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no |
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none |
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no |
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no |
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$300 discharge fee and $250 discharge documentation fee applicable if loan doesnt go to full term. |
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none |
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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.
loans.com.au
Smart Home Loan
4.23% p.a.
4.25% p.a.
$0.00
loans.com.au
Smart Booster Home Loan
3.60% p.a.variable for 24 months and then 4.00% p.a.
3.96% p.a.
$0.00
loans.com.au
Smart Booster Home Loan
3.60% p.a.variable for 24 months and then 4.00% p.a. variable
3.96% p.a.
Bank of Queensland
Economy
3.69% p.a. variable
3.85% p.a.
loans.com.au
Smart Booster Home Loan
3.60% p.a.variable for 24 months and then 4.00% p.a. variable
3.96% p.a.
loans.com.au
Smart Booster Home Loan
3.74% p.a.variable for 12 months and then 4.23% p.a. variable
4.22% p.a.
Qudos Bank
No Frills Home Loan
3.49% p.a. variable
3.49% p.a.
loans.com.au
Smart Booster Home Loan
3.60% p.a.variable for 24 months and then 4.00% p.a.
3.96% p.a.
loans.com.au
Smart Booster Home Loan
3.74% p.a.variable for 12 months and then 4.23% p.a.
4.22% p.a.
Qudos Bank
No Frills Home Loan
3.49% p.a.
3.49% p.a.
loans.com.au
Smart Booster Home Loan
3.60% p.a.variable for 24 months and then 4.00% p.a.
3.96% p.a.
$0.00
Bank of Queensland
Economy
3.69% p.a.
3.85% p.a.
$10.00 monthly
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.
