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Paul

9 months ago

Hi Mark Assuming your transaction has been structured appropriately (bare trust considerations), there are many factors (some below) to consider with SMSF lending. There are a limited number of options offering up to 80% LVR meaning that your SMSF will need to contribute funds representing at least 20% of the valuation on completion, which in itself could pose a problem as valuations may come in less than contract price. There may also be liquidity requirements meaning that the SMSF must have sufficient cash assets (post-completion) as a buffer. The other consideration is interest rates in the range of 5.5-6.5%. Please contact me to discuss as I have experience with SMSF's as a finance broker and an accountant/tax agent. Regards Paul Zada

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Glenn

9 months ago

Hi Mitch, I hope you're well? I have multiple SMSF lenders available to assist you in moving forward with your purchase. Some have more restrictions than others but the best thing to do is to get in touch through my profile so we can discuss your options and needs to enable you to find the best SMSF lender for your purchase. Kindest Regards. Glenn Rowan

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Rob

9 months ago

Hi Mitch - we would be happy to assist you with your SMSF purchase. We have done a number of these types of loans and they do require some careful planning and management, especially given the tax implications. It will be important to allow plenty of time in the lead up to settlement as there is significantly more documentation required for this type of loan. As I mentioned, we are experienced in this type of loan and have a number of loan options that may be suitable, depending on your circumstances and where the apartment is located. Please feel free to contact me via my online profile, Rob Emmett, Collins Home Loans.

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Christine

9 months ago

HI Mark As Mitch mentioned it would be best to use a Broker due to the continual changes around investor lending in particular SMSF lending. As you are purchasing off the plan this will also narrow down the lenders available as a lot of the SMSF lenders will not lend for off the plan purchases due to valuations falling short at the time of the build completion. Happy to meet and discuss your options in person, our office is based in Long Jetty on the central coast so please feel free to get in touch via my profile.

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Laurayne

9 months ago

Hi Mark, there are a number of lenders that provide finance for SMSF purchases. Each are different with their requirements. We need to understand your situation and where the property is located before we are able to make recommendations. We would be happy to assist you with this, so please make contact through my profile. Regards Laurayne

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Oktay

9 months ago

Hi Mark, There has been many changes to the SMSF lending guidelines as Mitch has already mentioned. It would be good get a better understanding of you situation and the property you have purchased to able to come up with a suitable finance strategy. Oktay

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kelvin

9 months ago

Agree with Mitch - max 70% lending from StGeorge - but the key issue currently are valuations. Many are coming in low especially for apartments off the plan - not where where you bought but check with a broker about any restrictions in the building location or apartment.

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Mitch

9 months ago

Hi Mark, Sounds like you're up to speed on the process of SMSF lending given that yours is already set up. The lending landscape might have changed since you last purchased due to tighter regulations for investors being implemented recently. There's a few Lenders I typically use for SMSF loans. St George being one of them just so it doesn't sound like I'm being cagey with information. SMSF lending isn't simple so I'd definitely recommend you work with a Mortgage Broker on this to save you time and effort approaching different banks yourself. I can certainly help you if you like but if not I wish you the best of luck achieving your goals!

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