| CLIENT PROFILE
|
Superannuation
Funds can now borrow money to purchase Real Estate.
An investor can have just as much choice and control
over investment properties inside as outside a Superannuation
Fund. |
| LOAN TERM |
30
YearsResidential and 25 Yrs Commercial |
| MAXIMUM LOAN SIZES |
Full Doc Residential -
85%LVR - $1,250,000
80% LVR - $1,500,000
75% LVR - $2,000,000
Lo Doc Residential -
83%LVR - $1,000,000
80% LVR - $1,250,000
75% LVR - $1,500,000
Full DocCommercial -
78%LVR - $5,000,000
Lo DocCommercial -
75% LVR - $5,000,000 |
| GUARANTEES |
The loans are personally
guaranteed by the members of the SMSF (subject to
credit approval). |
| INTENDED USE |
Investment Purchase |
| REPAYMENT OPTIONS |
Loans are Principal
& Interest Amortising Loans with interest payable
quarterly in advance. Interest only periods may
be available. |
| MINIMUM LOAN SIZE |
$150,000 |
| CAN I REFINANCE
MYPROPERTY TO MY SMSF |
No - Purchases
only – except certain commercial properties
which fall within the exemption to the “related
party” prohibitions in the SIS Act |
| ADDITIONAL REPAYMENTS |
Variable interest rate options only |
| MAXIMUM EXPOSURE |
Maximum exposure
to any one guarantor - $6m in total |
| LOCATION |
All metro and category 1 areas. Outside metro or major regional areas an interest rate loading of 0.35% will apply |
| STATEMENTS |
1/2 Yearly |
| REDRAW |
Due to SIS Act restrictions, no top
ups or redraws allowed. |
| FIXED INTEREST |
Available on request |
| RISK FEES |
Yes |
| BORROWERS LEGAL EXPENSES |
At Borrowers expense |
| LENDERS LEGAL EXPENSES |
At Borrowers expense |
| VALUATION EXPENSE |
$375 payable on application |
| CAPITALISATION FEE |
Fees can be capitalised
to a maximum of 1.5% of the property value. The
fees allowed to be capitalised are the risk fees,
legal fees ($350 only), title insurance and completion
fees.
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