Thought I would introduce all PI members to an Australian first in the SMSF property loan space.
In conjunction with our legal advisers & Superannuation Lawyers Cooper Grace Ward we are now able to offer SMSF’s an opportunity to purchase residential property in QLD, NSW, ACT & WA property to a lvr of 85% without having to go thru the expense of setting up a Bare Trust or incurring LMI.
All property locations are considered and there is no minimum SMSF Balance or high servicing hurdles.
We have approved a number of applications this week alone from SMSF’s that have been told from other lenders that they don’t have a sufficient Fund balance (Usually 200-250K) or they need a percentage cash surplus post settlement.
If you are looking to purchase a property inside your SMSF and want an alternative finance options or have an actual SMSF scenario feel free to drop me an email and we can send you some details.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Thought I would introduce all PI members to an Australian first in the SMSF property loan space.
In conjunction with our legal advisers & Superannuation Lawyers Cooper Grace Ward we are now able to offer SMSF’s an opportunity to purchase residential property in QLD, NSW, ACT & WA property to a lvr of 85% without having to go thru the expense of setting up a Bare Trust or incurring LMI.
All property locations are considered and there is no minimum SMSF Balance or high servicing hurdles.
We have approved a number of applications this week alone from SMSF’s that have been told from other lenders that they don’t have a sufficient Fund balance (Usually 200-250K) or they need a percentage cash surplus post settlement.
If you are looking to purchase a property inside your SMSF and want an alternative finance options or have an actual SMSF scenario feel free to drop me an email and we can send you some details.
Cheers
Yours in Finance
Hi Richard,
Can I ask how you offer loans for SMSF property without the bare trust? If you have private finance I can understand a higher LVR but I thought the bare trust was a legislated requirement because of the LBRA rules? Is that also sidestepped by private finance? If you prefer to respond via private message I understand as I am curious but perhaps you have some commercial in confidence or intellectual property you don’t want to share in public.
Thanks
MattBuyersAgent | Precium
http://www.precium.com.au
Email Me | Phone MeSouth Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
Hi Matt
The facility is not an SMSF loan and therefore does not fall under the LBRA rules.
It is done by way of a direct lease agreement with the SMSF and therefore has greater flexibility as well as considerable Tax advantages for the SMSF in the long term.
We have spent a considerable amount of money with Cooper Grace Ward ensuring the product is both ATO & SISA compliant and the launch has been overwhelming. To date, we have settled around 22 applications with another dozen or so in the pipeline.
Recently changes in VIC legislation concerning such arrangements have temporarily restricted Victoria but NSW, QLD, ACT & WA we are assessing deals daily.
Hope this helps.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Keen to have a closer look at your product.
Can you explain more here on the forum?Ian, happy to email you the product specs if you want to PM your address.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
As a result of recent RBA interest rate falls we have now dropped the interest rate on this product to 3.85% plus a 2% or 2.5% Management Fee (dependant on whether the LVR is over 80% or not) and hit our 100th settlement.
Certainly the response from borrowers, brokers and other intermediaries has been excellent.
Here’s to a good start in 2020 and further rate cuts for Super Funds.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Richard is Victoria now included?
Regretfully not.
Qld, NSW, ACT only due to demand.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
can you do it without a SMSF and would it work for doing renovations of property?
Wouldnt work for renovations but we do a lot of these deals for borrowers where they can’t show servicing as it is done on a Rent to Buy basis (or Lease Option).
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Richard,
Is it possible for a SMSF to borrow money to purchase commercial property at the moment?
Would accept a 60-70% LVR.
Thanks,
Quyen
Hi Quyen
Yes sure is.
Flick me an email at [email protected] with some details and i can have one of our BDM’s come back to you with some specs of the product.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
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