'Low rates' and 'cutting edge service' are the promises for loans.com.au's new loan for self-managed super funds (SMSF). 

The SMSF loan is available to borrowers with a loan-to-value ratio (LVR) up to 80% with a variable interest rate of 3.69% p.a. (3.70% p.a. comparison rate), with a maximum loan amount of $1 million. 

Managing Director of loans.com.au, Marie Mortimer, said the lender now offers one of the lowest SMSF rates in the market with a 'quick and simple' refinancing process. 

"By choosing to refinance your SMSF loan with loans.com.au, you'll be saving money on interest rates, and you can build your retirement wealth quicker," Ms Mortimer said. 

"For the last 10 years since we launched our business, we've been slowly developing our product base to suit the diverse range of customer needs.

"We know that not all customers are the same, so we have a variety of products, allowing our customers to personalise their loans based on their needs.

"Customers purchasing property via their self-managed super funds has become increasingly common in Australia, and it isn’t a very competitive space, so with loans.com.au entering this market, we want to make this space more competitive by offering first class service coupled with low interest rates, to allow those who are building their retirement wealth, to succeed sooner." 

The loan is only available for people looking to refinance, but Ms Mortimer said the lender would consider purchases in the future. 

There are very few lenders in the SMSF lending space as it's considered a slightly higher risk than regular mortgage lending.

Loans in the SMSF space are considered 'limited recourse', meaning in the event of borrower default, the lender can only seize the security the loan is tied to, rather than other assets in the fund such as cash and shares, which explains the slightly higher interest rates.

Related: How to buy property through an SMSF in Australia

Update resultsUpdate
Filters
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees Max LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkComparePromoted ProductDisclosure
6.99% p.a.
7.01% p.a.
$3,323
Principal & Interest
Variable
$null
$720
70%
  • Minimum 30% deposit needed to qualify
  • Available for purchase or refinance
  • No application, ongoing monthly or annual fees.
  • Dedicated loan specialist throughout the loan application
 Disclosure
7.19% p.a.
7.74% p.a.
$3,391
Principal & Interest
Variable
$395
$null
60%
  • Offset facility
  • EASY Refinance with minimal documentation
  • Residential & Commercial
  • Australia’s first certified Impact Lender
 Disclosure
7.24% p.a.
7.26% p.a.
$3,407
Principal & Interest
Variable
$0
$710
70%
 Disclosure
7.25% p.a.
7.65% p.a.
$3,411
Principal & Interest
Variable
$30
$825
80%
7.74% p.a.
7.76% p.a.
$3,579
Principal & Interest
Variable
$0
$710
80%
 Disclosure
7.75% p.a.
7.83% p.a.
$3,582
Principal & Interest
Variable
$0
$995
80%
7.49% p.a.
7.51% p.a.
$3,493
Principal & Interest
Variable
$0
$720
80%
  • Minimum 20% deposit needed to qualify
  • Available for purchase or refinance
  • No application, ongoing monthly or annual fees.
  • Dedicated SMSF loan specialist throughout the loan application
 Disclosure
  • Minimum 30% deposit needed to qualify
  • Available for purchase or refinance
  • No application, ongoing monthly or annual fees.
  • Dedicated loan specialist throughout the loan application

More details
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.

Important Information and Comparison Rate Warning
  

Photo by Thulifigar Ali on Unsplash



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