- 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)
- The new interest rate must be lower than the current interest rate.
- Applicants must be permanent or temporary residents (refer to the acceptable Visa list in the policy) of Australia, or Expats (Australian Citizens with overseas residential addresses)
- LVR should be ≤ 80% (inclusive of cash out, fees and charges)
- Held the existing SMSF loan for at least 12 months, show a good payment history and no significant arrears.
- Each applicant must have a minimum Equifax Apply One comprehensive credit score of 600.
- There are no signs of financial stress on the credit report.
- No recent negative changes to your client’s financial situation.
- 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
- 360 months
Maximum LVR
- 80% Residential
- 80% Commercial
Maximum loan amount
- Up to $3,500,000 per security
Residential
- Investment only
Commercial
- Investment or Owner Occupied
Liquidity obligation
- No ongoing liquidity threshold
Offset facility
- Yes (not available on SMSF Basic product)
- Refer to SMSF Offset Facility Guide to understand the main features, rules, and compliance requirements of the Granite SMSF offset facility.
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 – 5 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)
