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SMSF loans are used to purchase residential or commercial investment property within your self-managed superannuation fund. This strategy may be recommended by your financial planner and can be effective to build your wealth for retirement.
SMSF loans are complex and it’s important to have an experienced Mortgage Broker on your team. Feel Good Financial Services have years of experience with SMSF loans and working with financial planners, accountants and property buyers to achieve excellent outcomes for our clients.
SMSF stands for Self-Managed Superannuation Fund. This means that your superannuation is not handled by a super fund like REST, Host, CBus, etc. but is managed by you. You are responsible for the fund’s legal compliance, and performance.
People may choose to create a self managed super fund for a couple of reasons. They might prefer to control the investments that the super fund makes, they might think they can do a better job managing the super fund, or they may wish to invest in real estate. Researchers have noticed a correlation between uncertain economic conditions and an increase in SMSF opening, leading to the assumption most people want to feel in control of their super.
When an SMSF is set up correctly and the Investment Strategy allows it, the trustee may choose to purchase an investment property. There is a specific structure of ownership that must be followed to remain compliant. The deposit is paid from the super balance, and repayments are made by the rental income and super contributions.
Investing in property through your SMSF can be a complex transaction. It requires expert advice and guidance, as mistakes can be costly. We highly recommend advice from a Financial Planner before proceeding with an SMSF. Interest rates and fees on SMSF loans are higher than standard home loans. You also need to factor in compliance and audit costs.
Currently there are no major banks providing SMSF loans. We are proud to have access to over 15 different specialist lenders to suit a wide array of SMSF property investment scenarios.
You can refinance an existing SMSF Loan from another bank. The process is quite simple and there can be an impressive reduction in your interest if your SMSF loan has been with the same bank for many years.
SMSF loans can be a valuable strategy to help you grow your wealth and prepare for retirement.
Contact us to find out more.
With tight regulation surrounding SMSF, all of the major banks pulled their offering leaving many existing customers with high interest rates. We help to refinance your existing SMSF loan to a new lender to improve your interest rate, reduce your repayments and increase your cashflow in your self-managed superannuation fund.
Nobody likes playing phone tag! That’s why we give you the option to book a phone call at a time that suits you.
(02) 4488 1388
hello@feelgoodfs.com.au
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We provide face to face service for local residents in the Shoalhaven, and remote service via videochat for our clients Australia-wide.
