Clara and Ronald has a SMSF worth $300,000 in the account. As the trustees of the account, they wish to purchase a property valued $620,000. To get this property, a trustee purchases this property under their behalf, and sets up instalment arrangements for repayment. Clara and Ronald’s super funds pays a $62,000 deposit (10%) and their SMSF obtains a loan of $434,000– totaling to 70% of the property value. The remaining $124,000 is to be paid off from funds reserves at settlement. Once the loan is paid off, the legal ownership of the property can be transferred to the SMSF.
There are various conditions in the context of SMSF Loans comparison to the eligibility for qualifying loans, take a glimpse—
To apply for a SMSF Property Loan with us here at Maxiron Capital, it’s easy. We value our customer’s time, and have simplified the application process so that it is both easy and quick to fill out.
Fill out our pre-approval form - it takes only 5 minutes!
Receive an immediate decision - upload a few documents for verification
Receive your funds in as quick as 1 working day
Here at Maxiron Capital, simply complete the easy-to-be-eligible application form and we will give you an almost instant approval of whether or not you are able to receive the funding. Our extra perks and flexible terms & conditions help our borrowers manage their cash flow; our solutions are all designed with our customers in mind and tailored to their needs. Alongside, we offer low-interest rates and are bad credit accepting. Apply now, with Maxiron Capital it’s easy!
No. As a SMSF, you can only move into a property you purchase once you have paid off the loan and transfer the property to yourself after you retire.
Yes. The trustee of the SMSF can sell the property to any third party, upon paying out all outstanding loans.
No, with Maxiron Capital, obtaining a pre-approval is easy. We have revised our application process, and with just 5 minutes of your time, we will give you a pre-approval of whether or not you will be eligible for the loan.