What Is A Self-Managed Superannuation Fund (SMSF)?
It is a type of superannuation fund in Australia that allows individuals to take direct control and responsibility for managing their retirement savings.
In Australia, SMSFs are allowed to borrow money to acquire certain types of assets, commonly referred to as limited recourse borrowing arrangements (LRBAs).
Non-bank lenders provide SMSF loans; Major banks don't provide this type of loans.
For a standard home loan, there are only small differences among different lenders. However, for an SMSF loan, there are big differences in fees and interest rates.
What To Consider Before Setting Up An SMSF?
To ensure that you are complying with all of the regulations, speak to a tax agent who can offer you specialist taxation and financial advice before proceeding ahead with SMSF.
Why use Mortgage broker for SMSF loans?
An SMSF loan is a complex loan unlike standard home loans. Therefore, it requires a special expertise while structuring an SMSF loan. You don't have access to lenders, as the major banks don't do SMSF loan.
A mortgage broker specialising in SMSF loans will be able to file an application assessing your situation that increases the likelihood of getting a loan.
Get in touch with our SMSF lending specialist team to discuss further.
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