Aaron WhybrowGeneral Manager, Strategic Mortgage Broker

Why it's important to review your SMSF mortgage in a rising interest rate?

Name: Why it's important to review your SMSF mortgage in a rising interest rate?
Uploaded: 2023-03-09T23:54:39Z
Channel: Aaron Whybrow
Description: Carina walks through why SMSF borrowers should review their mortgages when rates rise. One client refinanced from 9.12% to 6.39%, saving about $400 a…

9 Mar 2023

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Carina walks through why SMSF borrowers should review their mortgages when rates rise. One client refinanced from 9.12% to 6.39%, saving about $400 a month for their super fund.

A quick pop quiz for you. Hi, I'm Carina from Diagnostics and Finance, your flexible mortgage broker. What do you think? The highest interest rate I've seen since the most recent interest rate rise. Has it been 6.39, 8.24 or 9.12? I'll give you a hint. It's number three at 9.12. Recently I've had a client who's reached out to me to review an existing SMSF home loan. The loan's current interest rate is sitting at 912%. We're looking at a refinance option that will save them around $400 per month for their super fund, giving them an interest rate sitting around 6.39% based on their LVR. So if you have a self managed super fund that you haven't looked at in a while or you've got a super fund mortgage sitting with one of the majors who used to provide the service but are no longer offering pricing for you, it's time for a review. Reach out to me. I'll be more than happy to have a review of your loan. Thanks so much.