

SMSF lenders dont always require a Financial Planner to sign off on your strategy - but its recommended. Here are a few reasons you may want to recommend a knowledgeable financial planner to ensure the credibility of your most important purchase – inside a SMSF. I have setout the steps to setup and implementation your SMSF strategy. Step 1 - Statement of Advice ( If required *) This will cover off your suitability for a SMSF with particular focus on funding and costs that are involved. It will cover the purchase of your property and the necessary structures you need in place to complete such a purchase and also the ongoing cash-flow of your fund. Address estate planning issues and also contingencies that need to be in place to account for such issues exclusively associated with SMSF property purchases. Step 2 – Liase in the setup of your SMSF We will liaise with your accountant or solicitor in the setup of the necessary structures needed for the purchase of a SMSF including - SMSF Trust Deed - Working account - Insurance - Bare trusts and; - Corporate Trustee Step 3 – Assist with the loan application Some lenders require either a SOA * or an advice certificate to be signed in order to implement a loan. The advice we provide will be able to meet these requirements with the Trust deed also being pre-approved for ASIC and ATO requirements. Setup Costs (Typical) SMSF Setup - $2500 Statement of Advice - $3500 Legals - $1500 Bare Trust and Corporate Trustee - $2200 Stamp Duty - included with borrowings Other : Conveyancing, Insurance tba The Financial Planner can complete the whole set up for a cost of $7,500 Happy to assist

Hardeep, to reply to your third question. I can help you. You need to complete the Hashching information online system. We then catch up to go through the whole process. Covering what you have in place, what is needed from compliance, the accountant duscussion, bare trust and the ATO regulations. Along with your SMSF plan, SMSF fund make up, trustees etc. I can help you go through this investigation process if I get assigned to you. Regards Owen

Hi Hardeep, I am a SMSF experienced broker. I have 4 lenders that I deal with frequently for SMSF loans. Have you already setup your SMSF? It is recommended that you have above $200K in super, but saying that there are also options when the super has only a low amount. I am located in Braeside 3195 Vic, please let me know if my location is suitable for you. Cheers Osman Duman


Hi Hardeep, Borrowing within your Self Managed Super Fund can be classed as specialised lending of which I am very experienced with. We can also offer assistance in setting up and preparation of relevant Trust Deeds along with reviewing a number of lender options available whether variable or fixed rates. Not sure where you are situated however we are in SE Qld if that is suitable to you.


Hi Hardeep, Thanks for posting your question. This form of lending is fairly complexed and therefore the panel of lenders that operate in this space is restricted. In order to borrow for an investment purchase your superannuation would need to be in a self-managed fund. Lenders may also place conditions on the income that can be used for servicing purposes, the minimum balance of your superannuation prior to purchase and your remaining balance post settlement as a percentage of the lending against the fund. If you are in Melbourne/Victoria & wish to discuss it further, then feel free to message me via my profile on this site, Kind regards Allan Houliston @ Aisling Financial

Michael
Hi Hardeep, thanks for your enquiry. As a I am a qualified financial planner/mortgage broker it would be prudent to seek advice from a professional planner regarding the purchase and the level of risk involved in acquiring a property. You need to ensure you have long-term investment strategy and ensure the property you purchase is going to achieve the results you're after. Time and time again we see clients make poor investment choices with the particular property from a capital growth and rental point of view especially with buying off the plan and I can further add purchasing properties which have been overpriced initially against what the bank will value it (big issues here). Regarding lending, as most brokers have stated you will need to have at least $200k in super for some lenders and others there is no minimum however there needs to be at least liquidity 10% left over within the fund after the transaction has been completed. Now depending on your financial circumstances will dictate the process and what's involved in preparing any application. As a word of caution please ensure you acquire a good accountant, financial planner and mortgage broker as without these could cost you in the long term for when it matters at retirement. Your financial planner will also need to assess your risk needs to protect the proposed debt as in some cases banks may request to see evidence that you have sufficient life insurance in place in event something happened to you. I would be more than happy to assist you here with the purchase therefore please get in touch. Cheers Michael