Founded in 2011 and powered by one of Australia’s largest non-bank lenders, loans.com.au seeks to help Aussies save money on a range of home and car loans. loans.com.au currently only offers the option to refinance an existing residential SMSF loan, and not for the purchase of a property.

Read more: How to set up a SMSF

loans.com.au SMSF Loans

loans.com.au offers the following refinance SMSF Loans:

Update resultsUpdate
Filters
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.99% p.a.
7.00% p.a.
$2,659
Principal & Interest
Variable
$0
$230
70%
 Featured
  • Available for Purchase and Refinance. No application fee and no settlement fee
  • No monthly, annual or ongoing fees
  • Access your SMSF loan via our easy-to-use online app Smart Money
7.49% p.a.
7.50% p.a.
$2,794
Principal & Interest
Variable
$0
$230
80%
 Featured
  • Available for Purchase and Refinance
  • No application fee and no settlement fee
  • No monthly, annual or ongoing fees
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

How does a loans.com.au SMSF Loan work?

An SMSF loan is a home loan used by an SMSF to purchase an investment property. The returns on the investment, which can either be your capital gains or rental payments, are funnelled back into the superannuation fund for your retirement.

loans.com.au currently only offers the ability to refinance SMSF loans, with their SMSF product not available for the purchase of new investment properties.

loans.com.au Refinance SMSF loans are eligible for the refinance of a standard residential investment house, unit or townhouse however are ineligible for the refinance of vacant land or multiple dwellings on one title.

SMSF loans are what’s called a ‘limited recourse borrowing arrangement’ or LRBA for short. This means if the borrower defaults on the loan, the lender can only go after the asset the mortgage is secured against. They can’t go after other assets held in the SMSF, and is why interest rates are typically higher on SMSF loans than regular home loans. This is the main difference between an SMSF loan and a regular home loan.

Read more: SMSF borrowing: a guide

loans.com.au SMSF Loan features

loans.com.au refinance SMSF loans feature:

  • Minimum loan amount of $50,000.
  • Maximum loan amount of $1,000,000.
  • Loan term from 15 to 30 years.
  • Option of additional repayments.
  • Weekly, fortnightly or monthly payment frequency.
  • Maximum loan-to-value ratio of 80%.
  • Variable rate.
  • Online access via Smart Money app.

loans.com.au SMSF Loan fees

loans.com.au refinance SMSF loans offer no application fees, no monthly fees, no annual fees and no settlement fees when refinancing. There are however some fees that come with the SMSF loan including:

  • Valuation fee - $220 or at cost.
  • Government fees - at cost.

Application process

loans.com.au refinance SMSF loan application process entails:

  1. A phone appointment with a lending specialist to organise pre-approval of your loan.
  2. Check the onTrack app to receive your final approval, mortgage documents and loan agreement. These must be signed and returned via onTrack, which authorises loans.com.au to deal directly with your existing lender.
  3. From this point, you no longer need to pay your previous lender as loans.com.au will pay the loan out by estimating payout costs based on current balance, rate and repayments.
  4. Your loan will settle and you'll enjoy the new refinanced interest rate.

Supporting Documents

Some documents you’ll need to refinance with loans.com.au include:

  • Your recent Super Fund Statement/s evidencing contributions, cash, investments, rental.
  • 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.

Image by Tyler Hendy via Pexels



Disclaimers

In the interests of full disclosure, Savings.com.au and loans.com.au are part of the Firstmac Group. To read about Savings.com.au manages potential conflicts of interest, along with how we get paid, please click through onto the web site links.