Which Banks Give Loans to SMSF?
Due to the high-risk level of SMSF loans, most Australian banks have decided to cease offering SMSF loans. However, this does not mean you will not be able to find an SMSF loan. There are some lenders still offering SMSF loans in Australia, including:
- Mortgage House
- Switzer Home Loans
- Reduce Home Loans
- Liberty Financial
- La Trobe Financial
SMSF stands for the self-managed super fund and allows investors to decide where they would like to invest their funds. SMSF home loans allow investors to use the funds to purchase an investment property that will eventually begin to make a profit. The investment properties’ profit will then benefit the retirement fund attached to the SMSF loan. These loans are great options for someone looking to increase their wealth and prepare for a financially stable retirement.
It is highly recommended to research the various lenders offering SMSF loans and compare the costs, rates, and lender terms and conditions before applying to verify you are getting the best deal possible. SMSF loans can be difficult to establish and if not done properly can negatively affect the borrowers’ financial status. Because of this, you should contact a professional lending specialist or mortgage broker to ensure all requirements are met properly.
If you would like to learn more about SMSF home loans, reach out to a Mortgage House professional lending specialist today for specialized assistance with any questions or concerns you may have.