St George along with Westpac, Macquarie, AMP, CBA, NAB, BankWest, ANZ, RAMS have all pulled out of SMSF (self-managed superannuation fund) loans. NAB although technically still offers SMSF loans but requires $5 million in the fund, so no one actually qualifies for it. However, there are other banks and specialist lenders who still provide SMSF loans.
With an SMSF commercial loan:
- You can borrow up to 75% of the property value for a commercial property.
- Borrow up to $10 million (higher on a case by case basis)
- Loan terms up to 30 years for commercial security properties (>20 years is on a case by case basis).
- Interest only repayments for up to 5 years.
- Discounted SMSF interest rates are available from some lenders.
Cheers,