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New changes to Superannuation laws mean that SMSFs (Self Managed Superannuation Funds) can now borrow money to purchase real estate assets.
How does it work?
- The SMSF is formed and funds are transferred from you current super fund
- A ‘Property Trust’ is formed in the SMSF
- The property trust purchases the property, obtains the loan and becomes the legal owner
- SMSF is the beneficial owner of the property
- Lender has no recourse against the assets of the SMSF other than the security property.
- Lender can use its standard loan documents and lending procedures
With Go Mortgage, arranging a ‘Super home loan’ is easy. We have the expertise and work with a network of people including accountants, solicitors and financial planners that help us help you in your quest of gearing your super assets. We also have access to a variety of lenders offering loans specially tailored for Super. This is important as the loan your super ends up with, not only needs to work for you but also needs to be compliant with the superannuation act.
Contact us about arranging finance for your SMSF.
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