Is SMSF a Good Idea?
SMSF is a good idea for people who want to take control over their retirement fund using specific investment strategies that generate profit. An SMSF fund should have a balance of over $200,000 to be more effective than a standard super fund. It is important to remember that SMSF can come along with high fees, costs, and interest rates. However, SMSF is a great option for someone interested in growing their wealth and retirement savings.
SMSF investment loans can be tricky to apply for properly, so it is highly recommended to work closely with an accountant and either a mortgage broker or professional lending specialists. In Australia, not many banks offer SMSF investment loans due to their high risk. The following lenders offer SMSF investment loans:
- Mortgage House
- La Trobe Financial
- Liberty Financial
- Reduce Home Loans
- Switzer Home Loans
An investor can use SMSF to invest in a wide range of investments, including residential and commercial investment properties, Australian and international shares, overseas investments, cash and bond, term deposits, cryptocurrencies, and more. Comparing the lenders, interest rates, and terms and conditions is essential to guaranteeing that you apply for the best option that works well with your individual financial status.
If you are interested in having control over your retirement fund and growing your overall wealth, reach out to our professional lending specialists at Mortgage House. Our lending specialists are experienced in successfully guiding investors through SMSF investment loan applications and approvals.