Aaron Whybrow walks through refinancing a self-managed super fund loan from 7-8% down to save 1.5-2%, while simultaneously setting up a personal loan for an investment property. He covers the mechanics of moving SMSF debt to a new lender and planning ahead for fixed-rate expiries.
Can you run two home loan applications at the same time for the same client? Hey, it's Aaron from Diagnostics and Finance. I'm doing just that for a client at the moment, but it's not what you think. It's two applications but one's for a refinance of their self managed super fund. Their self managed super fund. Interest rate got up to the sevens and even nearer to the 8% mark. It's only a small couple hundred grand loan, it's only on a residential unit. There's nothing really funky about it. They've gone through the pricing, they couldn't get the right pricing from their current lender. So we're actually reviewed and we're moving them on to another lender that will give them about 1 and a half to 2% deduction to start off with. So that accommodates for all the refinance costs. But the second application that we're doing for them is in their personal name. So we're able to get their next investment property in their personal name. So this is a client that's got one owner, rock and an investment and looking to get their third one and we're doing that as well. So. So not only that we've got the SMSF going, we've got the personal one going. We've also got a review on some of the fixed rates that are going to come up for expiry going into next year as well. So as we're in the upwards interest rate cycle, we're trying to do everything we can for our clients to get their interest rate down, even going down the path of putting two loan applications in, one for their super and one for their personal name, one for a purchase and one to save money. So if you're in this circumstance, jump in today, we'll be able to help you further.
