At WLTH, if your position meets your best interest, we provide a quick and hassle-free service to refinance SMSF property loans so you don’t have to pay more than you need to. As of July 5, 2023, our headline rates sit at 6.94% variable, with a 7.45% comparison rate. In this article, we give an overview of how simple it is to get a better rate with us.
1. Book a time with one of our lending specialists
Immediately talk to a specialist who can answer your finance questions by booking a call at a time that suits you. Otherwise, you can call us on 13 95 84 (13 WLTH) or email us at [email protected] to set up an appointment.
2. Receive a proposal
During your call with the lending specialist, you may be asked about your SMSF balance, your super contributions and the value of the property you are looking to refinance. Additionally, you’ll be briefed about any WLTH fees and loan details such as interest rates that you need to take into account. You could be issued a proposal on the spot that will be emailed for you to review, including a list of documents we require.
3. Send SMSF documentation
To progress, send through your SMSF documentation. Under our Rapid Refinance Loan, we don’t require your payslips, bank statements, or employment history.
4. Valuation
We complete a valuation of your property to confirm your Loan-to-Value Ratio (LVR). The first valuation fee is covered by us, so you don’t need to worry about incurring additional costs. We may be able to complete an online valuation if there are recent comparative sales in the area, producing an instant report – saving you time and money.
5. Approval within 48 hours
Once we have all your documents, you can be conditionally approved within 48 hours!
6. Submit your previous lender’s discharge form and find out any exit fees incurred
This is to let them know you’re moving on. Our Settlement Officer and assigned solicitor will deal with your current lender for you, but expect new rate offers from them to try and retain your business.
7. Additional Key Features
A special inclusion under our SMSF loans is an offset facility that can be beneficial to paying off your loan sooner as there is no redraw under SMSF lending. Any additional funds that you pay into your loan cannot be accessed unless they are sitting in the offset.
Finally, choosing WLTH has a bigger impact on our environment. The settlement of your loan will directly contribute to 50m2 of beach and coastline cleaned of plastic pollution alongside Parley for the Oceans.
Any advice provided is general in nature and should be considered in line with your financial situation, needs and objectives.
