Re: My AMP SMSF loan got knocked back! Need a lender that can help me
Posted: Tue May 14, 2019 5:14 pm
Hello Fardeen. Welcome to the forums.
Yes, there are select lenders that will lend up to 75%-80% of the property value to a self-managed superannuation fund (SMSF) to purchase a residential property.
To qualify for an SMSF residential loan:
Cheers,
Yes, there are select lenders that will lend up to 75%-80% of the property value to a self-managed superannuation fund (SMSF) to purchase a residential property.
To qualify for an SMSF residential loan:
- You’d need 20%-25% of the property value as a deposit for an SMSF loan plus an extra 5% of the property value to cover stamp duty and other costs of completing the purchase.
- The maximum you can borrow is up to 80% LVR.
- The SMSF net worth must be over $150,000.
- Postcode restrictions apply. Metro locations (CAT 1) are preferred by lenders.
- Interest-only is only offered by a few lenders.
Cheers,