Adding property to your SMSF can be a sound investment. But make sure you know what you are signing up for.
Did you know that:
- Macquarie will not do an SMSF loan on new properties.
- Westpac require SMSF borrowers to have an extra 10 per cent assets within the SMSF in addition to the property.
- La Trobe will only lend up to 60 per cent of the property’s value.
In addition, most SMSF loans come with fees of around $2,000 (though some lenders will set up your Holding Trust for you as part of the loan process).
Superannuation can be a tax-effective means of preparing for your retirement. Borrowing within a SMSF can really help you grow your retirement funds. But, before you sign up for your loan, make sure that you talk to your C&N Finance expert. Talk to us today. Dial 1300 306 868 now or leave us a message to return your call for free phone consultation.
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