The AMP SuperEdge variable loan will now start at 5.87 per cent per annum, an AMP spokesperson said.
AMP also announced the AMP SuperEdge three-year fixed loan has been dropped by 82 basis points to 5.29 per cent per annum.
Thrive Investment Finance director Samantha Bright said SMSF loans are in most cases unlikely to see the types of offers being introduced for standard investment loans recently, with some lenders and banks having ceased SMSF lending entirely.
Ms Bright said while she hopes to see a loosening around SMSF loan policy as lenders “are within their APRA targets this year”, she believes lenders are reluctant to open up options for SMSF lending, or re-enter SMSF lending at all, because they are concerned about generating high loan volumes.
It is easier for lenders to gradually increase lending or “slowly open the gate” through making smaller adjustments to their standard investment loans, compared with changing their offers for SMSF loans, she said.
“If they open SMSFs, because the options are so few, you’re going to start channelling a higher volume and that’s where I believe they’re getting scared they’re going to hit their APRA targets.”