Self Managed Super Funds

Self Managed Super Funds have become a powerful way to save for retirement. A way to ensure your retirement days are stress-free and the funds you require to live comfortably are on hand.

Many Australians have become frustrated at their retirement future in the hands of large Superannuation Companies and have made the switch to managing their own Self Managed Super Fund allowing them to invest in areas where they believe there is strong potential for future growth giving them increased financial security and freedom.

Changes to the SMSF legislation from the Superannuation Industry Supervision Act in 2007 meant that if you have a Self Managed Super Fund you can now borrow funds to purchase residential, retail, commercial or rural property, these changes were amended to allow the SMSF to borrow money as long as an acceptable structure was utilised.

General features of Self Managed Super Fund loan

• Residential Property loans applicants can borrow up to 80% LVR on a term of up to 30 years
• Commercial Property loans Approval up to 70% LVR on a term up to 20 years
• Rural Property loans Approval up to 65% LVR on a term up to 20 years
• Interest Only is available for all facility types with varying terms available

If you are considering purchasing property through your Self Managed Super Fund Summit Finance can assist you with the finance. We have access to a number of lenders currently offering SMSF loans and providing you with the information you need to make an informed decision. Throughout the process we will ensure that you speak with your Accountant and Legal Advisor so you fully understand your obligations purchasing property through your fund as there are a number of restrictions that potential buyers must be aware of.

Even if you haven't set up your Self Managed Super Fund but are looking to invest in property Summit Finance can refer you our Financial Planning partner group who assist our clients with establishing their fund and stepping you through the legalities of owning your own fund.