Re: Westpac doesn't offer SMSF loans anymore?
Posted: Tue May 07, 2019 1:44 pm
Hello Bailey. Welcome to the forums.
The major banks have all decided to pull out of SMSF loans, leaving many customers unable to obtain investment loans for their self-managed super fund (SMSF) without seeking a specialist broker. There are specialist lenders that still offer SMSF loans and that’s who we work with.
There may be tax, capital or investment benefits for you to sell your commercial premises to your SMSF, and there are no restrictions against commercial properties as opposed to residential properties. Some lenders favour this type of transaction as opposed to the simple purchase of commercial properties within your SMSF.
With an SMSF commercial loan, you can:
Cheers,
The major banks have all decided to pull out of SMSF loans, leaving many customers unable to obtain investment loans for their self-managed super fund (SMSF) without seeking a specialist broker. There are specialist lenders that still offer SMSF loans and that’s who we work with.
There may be tax, capital or investment benefits for you to sell your commercial premises to your SMSF, and there are no restrictions against commercial properties as opposed to residential properties. Some lenders favour this type of transaction as opposed to the simple purchase of commercial properties within your SMSF.
With an SMSF commercial loan, you can:
- Borrow up to 75% of the property value for a commercial property (even with bad credit).
- Borrow up to 80% of the value of a residential property.
- Borrow up to $10 million (higher on a case by case basis).
- Loan terms of up to 20 years for commercial security properties (loan terms up to 30 years are considered on a case by case basis)
- Interest only repayments for up to 5 years.
- Discounted interest rates are available from some lenders.
Cheers,