Loans to self managed super funds to purchase property are really different than normal loans as there is so much compliance around them. Of all the types of loans we have organized- commercial, construction, business, residential homes and reverse mortgages- super fund loans are by far the most different. It took banks quite a while to understand them. In fact the first one we did in 2008 took eight months and that was fast then. Now with our super fund loan checklist,we can organize the loans in almost the same time as a normal loan. We have dedicated channels at the lenders we offer for super fund loans.
We are also networked with teams of super professionals that can give you advice (if you so desire)legally, as well as financial planners and accountants and auditors all of whom specialise in this space. The reason why it’s so important you get your structure right for your self managed super fund because of the compliance-if you seek advice and that advice is incorrect, you not they are liable. If your structure is disallowed, then you could have to repay any tax benefit of the super structure as well as possible fines.
It’s difficult because most people cannot afford to retire if they don’t buy property in their self managed super fund, so really its very important that you have the right team.
You can rest assured that we know how to do the loans as many professionals in this smsf industry use us to do their super loans for their own funds as well as their clients.
There is no extra cost in using us and we have access to a range of suitable lenders in this space- so there is really no reason not to ask us first about your super fund loan.