Effective 29 July 2019, Bluebay Home Loans will reduce both variable and fixed interest rates by 0.10 of a percentage point across its SMSF loan products.
The lender has also increased the maximum loan-to-value ratio to 80 per cent for SMSF loans for its platinum product option.
It has also added additional flexibility by removing the need to meet the minimum net asset and liquidity tests for LVRs up to 80 per cent. However, a lender protection fee will be payable for these products where the LVR is above 70 per cent or the net asset or liquidity tests have not been met.
It has also added loans for commercial property to its SMSF product suite.
“An interest rate loading of 1 per cent will apply to any applications where commercial property is used as security,” the lender said.
The documentation fee has also been reduced from $1,300 down to $1,100.
