SMSF Interest rates & potential brokers

Discussion in 'Loans & Mortgage Brokers' started by Mark0001, 30th Jan, 2020.

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  1. Mark0001

    Mark0001 Member

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    Hi,

    Can anyone recommend a good broker for SMSF IP loans - currently have a $350k apartment with a $240k loan I'm looking at refinancing. AMP have me paying 6.17% on, so I'm looking at options.

    Thanks
    Mark
     
  2. JohnPropChat

    JohnPropChat Well-Known Member

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    Is the current valuation $350k? If so then it's < 70% LVR so a few options but the real question is the potentially lower interest worth the expenses in discharge and legal fees for a refinance?

    MortgageEzy has been mentioned a few times.
     
  3. David R Sutantyo

    David R Sutantyo Active Member

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    Few cheaper options, but as said above, there are fees to be factored in also for refinance - valuation, legal, title, settlement, etc
     
  4. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    I recall the AMP product has offset ?

    ta
    rolf
     
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  5. JohnPropChat

    JohnPropChat Well-Known Member

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    Last edited: 1st Feb, 2020
  6. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Plus Member

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    Looks like they are a non-bank lender with an offset account. I would suggest you make sure they have a producing ruling on this as there are extra dangers with superannuation law. I imagine they wouldn't be marketing something that could make borrowers breach the law but you never know.
     
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  7. euro73

    euro73 Well-Known Member Business Member

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    Those products are all funded by ORIGIN .
     
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  8. Sujay_Gulwadi

    Sujay_Gulwadi Member

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    Liberty does SMSF LVR 80% loans at 5.35%.
    However this is very specific to certain post codes and property types. Most loans rates will be closer to 5.60%.