- Better rates and faster funding
- No ongoing liquidity threshold
- Less documentation required
- No annual review
- No net asset requirement & quick turnaround time
- 100% Offset available – residential and commercial
Granite Home Loans won the Best SMSF Lender at the Australian Wealth Management Awards 2024.
To qualify for Granite’s SMSF Easy Refinance loan package, the Granite SMSF loan interest rate and principal and interest repayments should be lower than your client’s current SMSF interest rate and repayments. The application also needs to be logged in Simpology V2.
Easy Refinance Eligibility Criteria (Product Requirements)
- New interest rate must be lower than the current rate
- Loan must be settled over 12 months ago and demonstrate the last 12 months of good conduct – verified through loan statements
- New P&I repayments must be lower than current P&I repayments
- LVR should be <=80% (inclusive of fees & charges)
- Clear Credit History
- Applicant/Guarantor Credit Score >600
- Rental income alone must service the new repayment
- Applications via Simpology V2 –
- secure.simpology.com.au
- Select “Granite Home Loans – V2” from the drop down list
Full features
Payments
- Principal and Interest (max 80% LVR)
Security type
- Residential or Commercial | Refinance of existing property only
Maximum loan term
- 359 months
Maximum LVR
- 80% Residential
- 80% Commercial
Maximum loan amount
- Up to $2,000,000 per security
Residential
- Investment only
Commercial
- Investment or Owner Occupied
Liquidity obligation
- No ongoing liquidity threshold
Offset account
- Yes (rate loader currently waived and not available on the SMSF Basic product)
Borrower
Fund status:
- Accumulation phase. Retirees not acceptable.
Credit history:
- Clear credit history
Employment type:
- PAYG / self-employed
Acceptable borrowers:
- Corporate Trustee only. Australian Citizens or permanent residents.
Optional features
- Fixed rate option (max period – 10 years)
Repayment features
Repayment frequency
- Principal & Interest:
- Weekly
- Fortnightly
- Monthly
- Interest only
- Monthly
Transaction functionality
- Transactions to and from SMSF CMA via internet, phone
Make additional payments
- Unlimited (fixed rate maximum $20,000)
Repayment method
- Direct debit / auto draw from offset or link Cash Management Account (CMA)
Exclusions
- No construction / vacant land
Calculator
Loanapp
All non-Easy Refi applications must be submitted via Simpology Loanapp
All Easy Refi applications must be submitted via Simpology V2 (Choose Granite Home Loans – V2 from the channel drop down list)
