Victor was keen to take advantage of the opportunity to add a property to his self -managed super fund to diversify his assets for retirement and therefore wants to apply for a self managed super fund loan.
When he approached his bank for funding he was advised that most banks had withdrawn from providing this type of facility as non-recourse loans were too complicated.
We were able to provide a SMSF property loan up to 80% of LVR to facilitate the transaction.
Victor then purchased a $450,000 property in Lightsview structured within his super and had access to a facility that included an offset and redraw option to assist with future purchases.
Please note that commercial properties can also be acceptable as security.