How much do I need for a home loan deposit?

Generally, 20% of the property value is required by the banks. However, some lenders accept as little as 5%, and there may be options to reduce or avoid Lenders Mortgage Insurance (LMI). Certain professions may also qualify for lower deposit requirements.

What is Lenders Mortgage Insurance (LMI) and can I avoid it?

LMI protects the lender when you borrow more than 80% of a property’s value. Premiums range between 1% and 5% of your loan amount. Some professions and income types may qualify for LMI waivers, even with smaller deposits.

Is it easier to get approved through a broker?

Yes. A good broker understands how each lender assesses applications and matches your finances with the right lender. This reduces delays and avoids wasted applications. We only submit applications when confident of approval.

Can I buy a property in a different state?

Absolutely. Location doesn’t limit lending. We help clients purchase interstate investment properties or relocate with suitable loan options.

How often should I refinance?

It’s best to review your loan every 2 to 3 years or when your financial situation changes. Even a 0.5% rate drop could save you thousands. Refinancing also helps ensure your loan structure aligns with your long-term goals.

What should I consider before refinancing?

Beyond the interest rate, consider features like offset accounts, exit fees, fixed versus variable rates, and how the loan fits your financial goals.

I have multiple income streams—can that affect my borrowing power?

Yes. Income from ABNs, trusts, contract work, or mixed sources can affect how lenders assess your application. We specialise in presenting complex income structures to maximise borrowing power.

Can I borrow through a trust?

Yes, but not all lenders allow it. Applying through a trust or SMSF can be complex. We specialise in structuring loans for trusts, SMSFs, and company entities.

Do mortgage brokers charge fees?

Tiger usually charges no brokerage fee—we’re paid by the lender after your loan settles, with no impact on your interest rate. If a fee applies, we’ll notify you before proceeding.

How do I know if a broker is any good?

A good broker should be transparent, proactive, and focused on your goals. They should also be accredited with a wide range of lenders, not limited to one or two institutions.

Is it faster to go through a broker?

Yes. Brokers assess your application early, avoiding back-and-forth delays. Because we know what lenders require, we help you get approved faster with fewer complications.

Why choose a broker over going straight to a bank?

Banks only offer their own loan products. A broker compares multiple lenders to tailor the best option for you. With Tiger, you deal with one dedicated person instead of multiple bank contacts. Meet our founder, Raymond Liao, to learn more.

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FAQs

SMSF Refinancing — Frequently Asked Questions

These are the questions we get asked most by SMSF trustees considering refinancing. If yours is not here, call us on 1800 676 888 or send a message.

About Eligibility

Can I refinance an SMSF loan?

Yes. The ATO has confirmed that an SMSF trustee can refinance an LRBA without breaching the Superannuation Industry (Supervision) Act, provided the refinance proceeds are used solely to replace the existing arrangement, the original loan met Section 67A requirements, and the asset remains in the bare trust throughout the transition.

How do I know if my fund is eligible?

The main factors are your property’s LVR, your fund’s liquid asset position post-settlement, your existing loan history, and whether the bare trust structure is intact. We assess all of these in your free initial review.

My loan is only 18 months old. Is it too soon to refinance?

Not necessarily — but you should check for any early exit fees on your current loan. Some SMSF lenders charge discharge fees or fixed-rate break costs. We factor these into our comparison so you can see the net saving after any exit costs.

My fund has two properties under LRBA. Can I refinance both?

Yes, but each property is a separate loan and must be refinanced individually. One lender may suit both, or different lenders may be appropriate for each. We assess them separately and can manage both processes concurrently.

About ATO Rules and Compliance

Can I access equity from my SMSF property when I refinance?

No. The ATO’s position is clear: a refinance must replace the existing borrowing. You cannot increase the loan amount or access equity for other purposes. This is one of the key differences between an SMSF refinance and a standard investment property refinance.

Will refinancing put my fund's compliance at risk?

Only if the process is handled incorrectly — for example, if the title temporarily moves to the SMSF trustee during settlement, or if a second charge is placed over the asset. Our compliance pre-check and coordination with your solicitor are specifically designed to prevent these scenarios.

I have a related-party LRBA loan. Can I switch to a commercial lender?

I have a related-party LRBA loan. Can I switch to a commercial lender? Yes. The ATO permits a transition from a related-party loan to a commercial lender, provided the new arrangement meets the LRBA requirements applying from July 2010 onward.

Do I need to update my SMSF investment strategy before refinancing?

About Lenders and Rates

Which banks offer SMSF loans in Australia?

The major banks largely withdrew from SMSF lending following the 2018 Royal Commission. The market is now primarily served by non-bank specialist lenders. We do not publish a lender list here as products and policies change frequently — but our panel includes 10+ active, competitive lenders who are currently writing SMSF business.

Why are SMSF loan rates higher than standard investment property rates?

SMSF loans are assessed as higher risk by lenders due to the limited recourse nature of the arrangement — if the fund defaults, the lender’s recovery is limited to the single property. Fewer lenders compete in this space, which reduces rate pressure. That said, the gap between SMSF and standard investment rates has narrowed significantly as specialist lenders compete for market share.

How much could refinancing actually save my fund?

It depends on your loan balance, current rate, and what the market offers today. On a $500,000 loan, a 0.5% rate reduction saves approximately $2,500 per year — money that stays in the fund and compounds. We model this for your specific situation during the free assessment. This is a general illustration only — not a guarantee of outcome.

About the Process

How long does an SMSF refinance take?

Typically 6–10 weeks from initial assessment to settlement. The variables are document readiness, property valuation turnaround, and lender processing times. Complete applications with clean documentation consistently settle faster.

Do you charge a fee?

In most cases, no. Our remuneration is paid by the lender after your loan settles, and it does not affect the interest rate you receive. In the rare case where a fee applies, we disclose this clearly before any work begins.

Do I need to involve my SMSF accountant?

We strongly recommend it. Your accountant may need to provide the fund’s financial statements, confirm the investment strategy, or review trust documentation as part of the process. We coordinate with them directly to minimise the burden on you.