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Australian mortgage brokers can now process self-managed super fund (SMSF) loans with speed and accuracy.
Available now, Quickli’s new stand-alone platform integrates multiple lender calculators, policies and methods into a single, easy-to-use interface.
The tool, currently in free beta, handles complex contributions and caps, saving brokers from the hassle of manual spreadsheet management.
Monthly paid subscriptions are to be introduced following the free beta period. The inspiration behind the launch was a rising demand for SMSF lending, said Quickli. Brokers voiced concern over the complexity of SMSF loans, with previous submissions requiring them to download and manage multiple lender spreadsheets, each with different policies and calculation methods.
The platform was tested by over 100 brokers. Currently, SMSF serviceability for Pepper Money, Thinktank, Bluestone, WLTH, and RedZed is available, with more options to come.
Also on the way is expanded SMSF policy coverage, fixed product support and product comparison.
Angus Keatinge, Quickli co-founder and CEO said brokers have been asking for a solution like this for years.
“SMSF loans are complex enough without brokers having to juggle multiple spreadsheets. This stand-alone product gives them the confidence and efficiency they need in this specialised lending area,” he said.
Quickli continues to innovate to capture more market share. In a recent episode of Broker Daily Spotlight, Quickli’s chief of staff, Kelly Eldridge, said even though the company has captured more than half of the market (12,500 of 22,000 total brokers), expansion remains top of mind.
David Deevy, mortgage broker at Financial Engineers, has used the SMSF product and said it is “exactly what you would expect from Quickli”.
“[It has] shaved down the preliminary assessment process for SMSF deals to a fraction of the time we used to have to allocate. Another absolute game changer for the industry,” Deevy said.
[Related: Quickli isn’t stopping at over half of broker market share]
