The SuperLX SMSF loan platform, which was launched earlier this year and integrates with BGL’s Simple Fund 360, is continuing to expand the number of lenders on its panel.
Initially with only a single lender SuperLX was able to offer a competitive and very streamlined offer to SMSF trustees and advisers. By adding additional lenders, SuperLX is providing more options and greater competition in a traditionally very limited marketplace for SMSF loans.
“Our objective was to streamline and simplify the whole negotiation process of getting an SMSF loan” said John Chauvel, Director of SuperLX. “Now we want to stimulate more competition between all the major lenders who are proven at writing competitive SMSF loans.”
The integration of data from BGL and the algorithms used by SuperLX significantly enhance the application process for the trustee, and now allows them to compare loan products between more than one lender. The process is straightforward, quick and by analysing the loan application against the lender’s assessment criteria, increases the prospects of the application being approved. SuperLX Director Adam Smith said, “the quality of information we receive from BGL and the way we are able to customise it to suit the assessment requirements of the lender greatly improve the experience for the applicant and streamline the lender’s process.”