25 Mar 2021

Annual Loan Review for SF Capital Clients

When is the annual review?

The SF Capital client loan review is an annual process that typically begins in February-March and ends in April-May. All clients will be notified about this client loan review by email and/or SMS each year.

Is the Annual Review FREE?

The client loan review is FREE of charge and it is our plan for it to be free for as long as possible.

Interest rate negotiations, product switches and loan variations are an additional service to offer to clients free of charge through the year, and we are happy to manage these processes for you.

However, if our review recommendation is to implement a restructure, refinance or split & fix structure, the standard fee structure will apply.

Why should I have my loan reviewed by my broker?

There are three reasons why you should have you loan reviewed by your broker:

  1. You can ensure you’re receiving the most competitive interest rate with your existing lender;
  2. You can find out whether your loan structure is optimised and working for you; and
  3. You can identify your goals and as your broker we can continue to help you

We will then provide our recommendation to be put in place in your favour.

What do I need to do?

You will be sent an email that we are kicking off the annual review process. Then all you have to do is to fill out a short questionnaire and send us your loan details. Our team will review your loans within 2-3 weeks.

Please ensure that you do not unsubscribe from these important messages from us.

Step 1 – Opt in

Due to the large volume of enquiries, our Annual Review is on an opt in basis. The short questionnaire will help us understand how your goals and requirements may have changed, and anything specific you want to get out of the review, including:

  • Negotiate variable interest rates*
  • Fix your loan
  • Split and fix a portion of your loan
  • Switch repayments from Interest Only to Principal & Interest
  • Switch Investment Rates to Owner Occupied Rates
  • Refinance your loan
  • Restructure and / or Consolidate Loans
  • Release equity to purchase property
  • Other requirements.

For ING client, we would request that you pre-fill & sign a home loan review form for us to begin the rate negotiation for you.

Step 2 – Send loan details

Then you’ll be asked to send us your latest loan statement as well as a screenshot of your loan accounts which shows the current balance.

What do I get out of the Annual Review?

There are many benefits to clients of an annual review:

  • Rate savings – we will negotiate your interest rate if there is an opportunity to. If we think you should refinance, we will let you know
  • Manage Interest Only & Fixed Interest Rates – if your loan is coming off an interest only period or fixed rate, we will help you with deciding what to do beforehand
  • Better understand your equity position – we can send you a complimentary property report upon request so you know how your property has performed
  • Help you achieve your goals – perhaps you are planning a family, relocating, changing your career – let us know so we can help you manage your finances.
Are you on Interest Only or Fixed Rates that are expiring in the next 12 months?

It is important you know of any Interest Only or Fixed Rate terms in your loan portfolio that are expiring. The reasons are twofold:

  1. For anyone on Interest Only Rates, the benefit of paying Interest Only is only for a set term e.g. 5 years. After the Interest Only term, your repayments will revert to Principal & Interest. This means your rate should decrease however the repayments will increase as you will need to start paying principal back and over a shorter term. We need to have an active discussion whether you would like the Interest Only repayments to continue, or would like to update your loan in some way.
  2. For anyone on Fixed Rates, we would like to see when your Fixed Rate term expires. We can then decide together whether you would like to re-fix your loan, or let the loan revert to variable where we will negotiate the rate for you. If you have other goals in mind, we can also discuss these as it is better to restructure your loans only when your rates are variable to avoid any break fees.

What if I need my loans reviewed in between annual reviews?

If you have missed the client loan review notification, or you would like your loans reviewed mid-year, please send your broker your loan statements, a screenshot of your loan account and your requirements, and we’d be happy to help you.