Independent Legal Advice for an SMSF Refinance

Moving an existing SMSF property loan to a new lender usually means signing new guarantees, and the new lender will generally want a solicitor's certificate that you received independent advice first.

  • Advice on the new loan and guarantee documents
  • Both members covered in 1 Teams meeting
  • $800 + GST fixed fee
  • Certificate returned to you, your broker or the lender
Send Us the Loan Documents

Refinancing after August 2026

Refinancing Is Still Permitted, and the Paperwork Starts Again

The changes that took effect on 10 August 2026 stopped SMSFs entering new borrowing arrangements to buy residential property. Arrangements already in place continue, and refinancing an existing arrangement remains permitted.

A refinance is not a continuation of the old loan in the lender's eyes. The new lender issues its own loan agreement, and the members and the directors of the trustee company are usually asked to give fresh personal guarantees on the new lender's terms. Those terms can differ from the ones signed originally.

The certificate the new lender asks for confirms that a solicitor explained those documents to you before you signed. We go through them with you and point out where the new terms differ from a standard SMSF loan.

Corporate Legal provides legal services only - not financial, taxation, investment or credit advice. Whether a refinance suits your fund, and whether it stays within the superannuation rules, should be confirmed with your SMSF accountant or adviser.
About SMSF independent legal advice

What we look at

What Changes When the Lender Changes

The property and the custodian usually stay the same. The obligations you sign often do not.

The loan amount

Whether the new facility replaces the existing debt or adds to it. Borrowing more than the existing debt raises questions your adviser needs to confirm first.

The guarantees

Who is guaranteeing, whether each guarantee is limited or unlimited, and whether it extends beyond the property loan.

Default and recovery

What the new lender can do if repayments stop, including whether it can pursue the guarantors personally.

Terms and reviews

Fixed periods, interest-only terms, annual reviews and the events that allow the lender to call the loan in early.

The custodian arrangement

Whether the new lender needs the bare trust deed varied, a new mortgage from the custodian or other changes to the holding structure.

The certificate form

Each lender uses its own form. We check that it names the right people and entities before the meeting.

Refinancing an SMSF property loan?

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The process

How the Advice Is Arranged

01

Send the new loan pack

The loan agreement, guarantees, mortgage documents and the lender's certificate form, from you, your broker or your conveyancer.

02

We review the documents

We check the pack is complete and note where the new terms differ from what you would expect on an SMSF loan.

03

Teams meeting

The members, or all directors of the trustee company, attend together. We sight identification and go through the documents.

04

Certificate returned

The documents are signed and the certificate goes to you, your broker or the lender.

What the $800 + GST fee covers

Review of the refinance loan and guarantee documents, 1 Microsoft Teams meeting for up to 2 members or directors attending together, and a signed certificate for each of them. Any variation to the bare trust deed or custodian documents is quoted separately.

Have the loan documents?

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Why the Advice Matters on a Refinance

Guarantees reach beyond the fund

A limited recourse loan protects the fund's other assets. A personal guarantee does not protect yours.

New terms, new obligations

A lower rate can come with wider default clauses or a broader guarantee than the one you signed originally.

Not proceeding is a valid outcome

The certificate records that you understood the documents. Deciding not to sign on those terms is also a legitimate result of the advice.

Questions about a refinance?

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Explore:

Related SMSF and independent legal advice services.

Related: SMSF Independent Legal Advice · Certificate of Independent Legal Advice · SMSF Commercial Property ILA · Bare Trust and Custodian Setup · Pricing

Questions About SMSF Refinance Advice

Can an SMSF still refinance its residential property loan?
Yes. The changes that took effect on 10 August 2026 stop new borrowing arrangements to buy residential property, but existing arrangements continue and refinancing them remains permitted. Confirm with your SMSF adviser that your particular refinance is structured correctly.
Why does the new lender want independent legal advice?
Because you are giving new personal guarantees. The lender wants evidence that you understood them, so the guarantees are harder to challenge later on the basis that you did not.
Are both members covered by the fee?
Yes, where both attend the same Teams meeting. If more than 2 people are signing, or their interests differ, we quote before starting.
Do you advise on whether to refinance?
No. We advise on the legal effect of the documents. Whether the refinance is a sound financial decision for the fund is a question for your accountant, adviser or broker.
Does the bare trust deed need to change?
Sometimes. Some lenders ask for a variation or new documents from the custodian. We check this when we review the loan pack and quote for any extra work first.
How long does it take?
Usually within 24 to 48 hours of receiving the complete documents, depending on when everyone signing can attend.

Ready to arrange the advice?

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Send Us the Refinance Documents

We will confirm what the new lender needs and book a Teams meeting with everyone who is signing.

Send Us the Loan Documents