The number of banks offering self-managed super fund (SMSF) lending dropped last month with AMP, CBA, Westpac and St George pulling out of the market for new loans.
However, this does not mean the end of SMSF lending. Chan & Naylor Finance has access to a wide panel of lenders; five of whom will lend on residential properties and six on commercial properties.
Some lenders will lend up to 80 per cent on residential properties held within an SMSF and include household names such as Macquarie.
Commercial lending within SMSFs remains easier to arrange (though at lower Loan Value Ratios) and includes household names such as NAB Business Banking and Bankwest – through its Broker First Team; some rates are as low as 4.99 per cent on commercial SMSF loans.
And, there are indications that some niche lenders are looking to fill the SMSF space left by the majors.
If you want to discuss Super lending, please contact your Chan & Naylor Finance broker in your local office.
Chan & Naylor Group has nationwide offices in North Sydney, South West Sydney, Sydney, Pymble and Parramatta in New South Wales, Melbourne, Moonee Ponds and Hawthorn in Victoria, Brisbane and Capalaba in Queensland, and East Perth in Western Australia that can assist you with Super lending as well as any other business or personal tax enquiry that you may have. Contact us today.
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