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Mortgage Specialists for over 20 Years

Borrowing Through Your Self Managed Superfund

SELF MANAGED SUPER FUND HOME LOAN

 

General Features

Description Available for the purchase of residential investment property to a maximum 70% Loan to Valuation Ratio.
Based on the Standard Variable Rate Loan, there are no monthly, annual or other ongoing fees and a competitive variable interest rate for the duration of the loan. Variable rate loans allow unlimited additional repayments at any time, without penalty.
Fixed rate loans allow additional non-scheduled repayments of less than $10,000 per year, without penalty.
Key Benefits No account keeping or ongoing fees
No fees for making additional repayments (fixed rate loans may differ, see below)
Direct Salary Crediting
 
 

Key Features

Ability to Make Additional Repayments You can make additional regular or lump sum repayments on a variable rate loan any time, as often as you like, with no additional costs.  Charges may apply to fixed rate loans in certain circumstances e.g. when additional unscheduled repayments of $10,000 or more per annum are made.
Loan Structure / Repayments A single fully drawn loan with either P&I or I/O, variable or fixed rate repayments.
 

Loan Details

Loan Purpose Borrow to purchase residential investment property.
Borrow to refinance an existing SMSF residential investment real property
Must be for investment purposes – cannot be owner occupied
Purchase must be from an unrelated party
Refinance dollar for dollar and reasonable associated costs only – no cash out
Loan Term Up to 30 years
Repayment Type Maximum Interest Only period 5 years
Repayment Method Direct Debit or Direct salary credit
Repayment Frequency P&I loans can be fortnightly or monthly or
I/O loans are monthly, due on the 1st of the month
Minimum Loan $50,000
Redraw  / Portability No Redraw or substitution of security allowed
Interest Calculations Calculated on a daily balance and charged once a month
Statement Cycle Issued 6 monthly
 
 

CREDIT POLICY

LVR 70% of lesser of purchase price or valuation
Security Registered first mortgage
Residential security only
Primary postcodes category 1 or 2 or by Exception
Unacceptable security:  second mortgages, off the plan, residential/rural  acreage > 2 hectares, vacant land
Title Holder The Property Bare Trust or the Trustee, depending on the State jurisdiction of the land title
Credit Requirements

Evidence of Income. Full documentation only.
No current or past default listing, judgement, writ or summons, or discharged bankruptcy order

Valuation Full Valuation required
Independent Legal & Financial advice to be obtained by each Guarantor
Financial advice not required when referred by a Financial Planner
Serviceability Serviceability takes into account:
Rental return on subject property
SMSF ability to meet commitments
Full financial disclosure of assessable income from all guarantors / adult members

 

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