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SMSF mistake that quietly erodes retirement outcomes

  • 29 January 2026
  • by guest contributor: Simon Wood | First Point Group
  • 3-minute read

When an SMSF property loan is first established (commercial or residential), Trustees are often focused on getting the structure right and securing approval. Once the property settles, the loan itself can quietly become a “set and forget” arrangement.

For many SMSFs, that’s a mistake.

Many SMSF loans were written several years ago, often at higher interest rates, with limited features and in a climate which had far less lender competition than exists today.

Since then, interest rates, lending policies, and SMSF cash flow pressures have all changed – yet the SMSF loan often remains untouched.

Unlike home loans, SMSF loans are rarely reviewed annually. Trustees may assume refinancing isn’t possible or worry that changes could breach SMSF rules. In reality, refinancing is often permitted, provided the underlying asset, borrowing arrangement and compliance requirements remain unchanged.

The cost of not reviewing an SMSF loan can be significant.  

Even small differences in interest rates or loan structure can compound over time, reducing net rental income and ultimately impacting long-term retirement outcomes.

Our recommendation

Regular loan reviews support Trustee obligations. SMSF Trustees are required to act in the best financial interests of Members, which should include ensuring financing arrangements remain appropriate and competitive.

The ideal time to revisit an SMSF loan is often alongside annual accounts or investment strategy reviews. A coordinated conversation between your Accountant and an experienced Finance Broker such as First Point Group – our long-term finance partners – can help determine whether the current loan still aligns with the fund’s objectives – or whether a compliant alternative should be explored.

The professional team at First Point Group have been able to save some clients over 2.00-3.00% by refinancing their SMSF loan in recent months.

Sometimes, doing nothing is the most expensive option of all.

This article provides general information only and does not constitute financial, tax or SMSF advice. SMSF Trustees should seek advice from their Accountant or Financial Advisor before making any changes to borrowing arrangements.

Contact us

If you have any questions please contact First Point Group on +61 3 9882 2500 or .

About the author

Simon Wood

Simon Wood

Director | First Point Group
Simon Wood is First Point Group's Director and an accomplished Consultant, with over 20 years of residential and business lending experience. He is an Accredited Mortgage Consultant with the MFAA, holds a Diploma in Lending and he has completed various studies in Financial Planning and IT.
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