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Purchasing property in a Self-Managed Superannuation Fund (SMSF) Loans
You can buy a commercial property for your business, passive investment or residential investment

SMSF finance facilities, some of the basics:

  • SMSF loans are funds which are loaned to a self-managed super fund in order to assist with the acquisition of eligible income-producing real estate
  • The funds borrowed are applied to the purchase of an asset
  • This asset is held in trust and the self-managed super fund acquires a beneficial interest in the asset
  • The SMSF has the right to acquire legal ownership by finalising payment
  • SMSF loans are ‘Limited Recourse’, which means the lender is not able to access any further assets held by the SMSF other than the property held as security. This means that even in the event of a default, the rights of the lender against the SMSF are limited to the security property, ensuring the safety of the SMSF’s portfolio across other investments. The financier though may require personal guarantees from members of the fund

If you would like to know more about the benefits of using a Self Managed Superannuation Fund (SMSF) give Scott and the team at Cairns Finance a call today. We have worked on many SMSF products for clients over the years and can offer expert advice in this regard.

Some of the restrictions to SMSF finance packages to be aware of:

  • No finance is available for the construction, refurbishment, repair or improvement of the property
  • Member/s of the SMSF cannot reside in the residential property but can purchase a residential property that they intend to move into after retirement, subject to it being transferred out of the Self-Managed Super Fund, buying a commercial property for use by your own business though is fine
  • No redraw on the loan is available
  • All property purchases must be on a ‘stand-alone’ basis, buying two adjoining properties is fine abut they will be individually the subject of their own separate legal structure
  • An existing asset can be refinanced providing it meets the requirements of the SIS Act
  • No leveraging of existing property is allowed however you can borrow to repay existing SMSF loans plus costs
  • It is particularly important that you are well versed of the ‘rules of the game’ when it comes to buying a property in your SMSF, so we encourage you to seek assistance from accountants, lawyers and financial planners that are experienced in this complex area of finance

We look forward to working with you

 

Contact us
Let's find you some finance options

Phone (07) 4051 2444
Scott Smith: scott@cairnsfinance.com.au
Mitchell Smith: admin@cairnsfinance.com.au

Travel Town Professional Offices
Suite 11A, 21 Lake Street, Cairns QLD 4870

B Mundy Pty Ltd atf Scott Smith Family Trust t/as Cairns Finance ABN 70 538 583 179 Australian Credit Licence 415600

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SMSF
SMSF loans are funds which are loaned to a self-managed super fund in order to assist with the acquisition of eligible income-producing real estate. The funds borrowed are applied to the purchase of an asset. This asset is held in trust and the self-managed super fund acquires a beneficial interest in the asset.

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