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.
Disclaimer: This article contains general information; before you make any financial or investment decision you should seek professional advice to take into account your individual objectives, financial situation and individual needs. Click for more detail regarding this disclaimer.