SMSF Home Loans
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Self-Managed Super Fund
What is a SMSF?
A self-managed super fund (SMSF) is a private, self-managed super fund that you administer. Industry and retail super funds are not the same as SMSFs.
You deposit the money you would ordinarily invest in a retail or industrial super fund into your SMSF when you manage your super. You make the investment and insurance decisions.
There can be no more than six participants in your SMSF. The majority of SMSFs have two or more. You are an SMSF trustee of the fund as a member, or you can hire a corporate trustee. In either scenario, the fund is your responsibility.
What is an SMSF Home Loan?
A Self-Managed Super Fund, or SMSF is a private superannuation fund that allows you to manage your own superannuation investments for your retirement. Not everyone can set up their own superannuation, so understanding the basics is crucial before getting started, and for this we always recommend speaking to your accountant or financial advisor.
An SMSF loan is a home loan used by an SMSF to purchase an investment property. The returns on the investment, which can either be your capital gains or rental payments, are funnelled back into the superannuation fund for your retirement.
Features of an SMSF Home Loan
Unlike other Home Loans, SMSF home loans follow strict rules when it comes to borrowing money for property and it is difficult to find lenders and banks that offer such services. Apart from that, you may find there to additional fees and charges on your loan amount. SMSF property loans for poorly managed SMSF funds have a harder time getting their loan approved for their SMSF.
SMSF home loans or limited recourse borrowing arrangements can be taken for residential or commercial properties, but the condition of the loan or amount may vary. You can borrow money to purchase a single asset which is later held in a different asset.
As SMSF trustees who have taken an SMSF loan, you have to also know that on SMSF home loans there are additional tax implications based on any earnings you make from the property. The tax implication can either be from the rent that you receive from the property or the sale of the property. Due to the range and extensive information that SMSF members need to be informed about, they must seek independent professional advice for an investment strategy before they seek an SMSF home loan.
SMSF Home Loans are similar to regular home loans, in that, they have a variable or fixed interest rate, and can have offset accounts to make the payments, or choose to make interest-only payments for some time. Other than that, SMSF home loans can extend up to 30 years, which regular repayments on interest and principle, and similar strategies are used to reduce the number of repayments.
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Some of the brokers associated with us have access to 35 lenders across Australia with valid Australian Credit Licences
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Refinancing Loans
Refinancing can help you get better interest rates on your home loan and make quicker repayments
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SMSF Home Loans
Tap into your SMSF to gain access to fund that can help you buy the investment property of your choice
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It is 100% free! We don't charge you anything as we work directly with the top brokers in the country and earn our fee from them.
The amount you will be saving can depend upon your current loan period, interest rate, and the number of years left on your loan.
You will be provided with an estimate after you start working with one of our Mortgage Broker.
At Mortgage room, we recognise that every application is different, and therefore each application is provided with a personal touch, and after an internal process, we match you with the best possible Mortgage Broker
Our internal process considers your situation and links you with the best possible mortgage broker on our panel.
In the case of poor credit, your application will be handled by experts who specialise in dealing with such matters. At Mortgage Room, we believe everyone deserves the home of their dreams.
We can deal with regular residential mortgages and more complex situations involving land, investment properties, buying on trust and Asset Protection. Some of our Mortgage brokers are also registered accounts.
So if you are looking to take equity from your home, consolidate some debt, lower monthly payments or want to secure unbeatable incentives, talk to our mortgage broker and see if they can help you.
At Mortgage Room, we recognise that the Covid-19 pandemic has affected many families and homeowners. Every homeowner should be able to access their savings by refinancing. Please discuss your situation with Mortgage Broker and see how he can assist you with the current situation.
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