Are you able to use your superannuation fund for a deposit or part of? I seen it on the front cover of a magazine, I would like to know if this is possible?
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If you have a SMSF you might be able to gear a property through that.
If you are wanting to take money out of the super fund for a property you are buying outside the SMSF as a general rule no. There may be exceptions based on whether you are entitled to withdraw superannuation eg your age, work status.
My understanding is you could, if you have sufficient control over the superfund in question. However I believe you can only get finance for 50% of the property. A complex topic, do lots of homework on it.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
If the property is purchases using a Instalment Warrant then Yes your SMSF can provide the deposit for the property.
Maximum LVR is 80% however those lenders that offer such a facility prefer to keep it to around 70%.
Course a few considerations before jumping in.
Richard Taylor | Australia's leading private lender
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