Trustees as managers of the Fund have a choice of which lender to deal with. This includes refinancing an existing SMSF loan. There are certain ATO requirements to be mindful of when Trustees refinance a loan. Firstly, the Bare Trust details might need to be updated in order to reflect the new lender. Secondly, the new lender might request for a change to be noted as the first mortgagee on title. Lastly, remember to advise your SMSF accountant about the lender’s update to be reflected in the records of the SMSF.