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HashChing is Australia’s first online marketplace allowing consumers to access great home loan deals without having to shop around. Completely FREE to consumers, HashChing connects you directly to verified mortgage brokers who can further negotiate a better rate from the lenders and save you time, hassle and money.

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kelvin

2 years ago

SMSF rates are higher than regular advertised owner investment interest rates - they all are. I see rates from 4.77% and at your current 51% borrowing - you can choices. Is it worth changing - StGeorge are advertising from 4.99% - so depends what your rate currently is if there is a saving. PS - I use and recommend StGeorge so borrowers can do Interest Only for 10 years - and save for their next purchase.

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Albert

2 years ago

Hi Tom, great question and not uncommon with SMSF lending when people see the standard residential rates under 4% and start to wonder why the SMSF loan is closer to 5%. One quick thing to check when refinancing a SMSF loan is the cost of the setup of the new loan, most are between $1,750 and $2,500 in application or legal fees. And also the possible cost of rewriting the holding deed as many are lender specific and the legal fees are often another few hundred. As a result even a very large saving on the interest rate can take considerable time to recoup. Most brokers will be able to do the calculations on the savings benefit of the lower rate and should explain how long the refinance costs will take to recoup. Hope this helps Regards Awesome Albert

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Owen

2 years ago

Hello Tom, because your situation involves an SMSF I would suggest, like Guido has mentioned, fill in the Hashching form and a close SMSF broker will look after you personally. Please ensure you mention in your form about the SMSF. Kind Regards Owen

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Guido

2 years ago

Hi Tom Thank you for your question The best interest rates are not alway the best deal I could quote 3.83 Variable and or 3.84% 3 years fix, the comparison rates are more important as they show you the real % you are paying. However, do you really need an offset account? An offset account is attracting fees. A redraw facility will do the same without fees. There are also your personal circumstances can impact your interest rate. I would recommend you filling in HashChing enquiry form and a broker close to you will contact you. This broker can establish your best rate and the lender you like. Regards Guido

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