It’s Never Been Easier to Refinance Your SMSF Loan

Cast your mind back to the early days of SMSF lending. The banks were all in, keen as mustard. And then… well, they weren’t. One by one, they quietly backed out.

In their place came a handful of non-bank lenders. Competition? Barely. And when there’s not much competition, pricing tends to get… let’s say, “confident.”

So for a long time, established SMSF loans were stuck between two not-so-lovely forces:

1. Banks that didn’t really want to be there anymore—so they kept rates high to cover costs (and maybe nudge you toward the exit).
2. Non-banks who thought they were the only game in town—and charged like it.

But! Times change.

Over the last few years, a whole new wave of SMSF lenders has entered the market. And—as with any healthy marketplace—the more players on the field, the better the deals for you.

Many of these new lenders are now making refinancing surprisingly easy. In some cases, the only thing they want to see is that your new interest rate and repayments will be lower than what you’ve currently got. Simple.

Costs?
Sure, you’ll still need a new valuation. Yes, there are legal fees. And yes, there might be a discharge fee from your current lender. But in most cases, the savings on your rate easily outweigh those one-off costs.

Independent Legal Advice?
If you can show you’ve already had it, many lenders will waive it. (A small win, but a win nonetheless.)

So if you’ve got an existing SMSF loan and want to:

• Reduce your interest rate, or
• Cut your repayments and keep more cash for other projects,

…then it’s absolutely worth chatting with one of our SMSF lending experts.

Because if you’re looking to improve the performance of your SMSF, it starts here!

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