The Basics
Purpose ·         Purchase of Residential Investment Property plus costs (transactions with Residential properties must be at arm’s length)

·         Refinance by exception

·         Corporate Trustee only; Individual Trustee not accepted

Applicant ·         Self-Managed Super Fund to be established
Borrower ·         The Property Trust
Guarantor ·         All adult members of the SMSF – Maximum 4 (PAYG only Self-employed by exception)
Loan amount ·         $50,000 – $750, 000

·         Maximum Borrower Exposure – $1,000,000

LVR ·         75% Metro, 70% High Density & 60% Regional

·         Interest Only not available above 70% LVR

Net Tangible Asset requirement ·         Net Tangible asset of Nil to $120,000 prior to deposit paid, or no Asset requirement for the SMSF Extra
Liquidity requirement ·         Nil to 7.5% of SMSF debt in Liquidity post Settlement, or no Liquidity requirement for the SMSF Extra, Plus or Regional solutions
Term ·         30 Years
Rate Options ·         Variable and Fixed Principal & Interest (No fixed on Extra, Plus or Regional)

·         Interest Only to a maximum LVR of 70%

Processing Fee

 

 

SMSF Extra

 

·         $570 Application fee | $250 Valuation fee* | $1,095 Establishment fee | $1,485 Funder’s Legal fee plus disbursements and searches |$450 Settlement fee

·         1.25% of Loan amount Application fee | $250 Valuation fee* | $1,095 Establishment fee | $1,485 Funder’s Legal fee plus disbursements and searches | $450 Settlement fees

Post Approval ·         $150 Loan Amendment fee for restructure of loan once approved

·         $85 Solicitor Re-document fee for restructure of loan once documents issued

Discharge Fee ·         $895
Features
Multiple Accounts ·         N/A
Statements ·         Half Yearly
Redraw Facility ·         From Offset
Rate Lock ·         N/A
Account Access ·         Internet & Phone access
Portability ·         N/A
Construction ·         Not Available
Repayments
Type ·         Principal & Interest or Interest Only
Frequency ·         Weekly, Fortnightly & Monthly; Only Monthly for Interest Only
Methods ·         Direct Debit – Repayment drawn from Offset Account
Additional Repayments ·         Variable Rate – Extra repayments may be made at any time without penalty

·         $20K max allowable extra re-payments per Anniversary Year on Fixed Rates in the offset account or directly paid into the loan account

·         Fixed Term Break Cost upon request

Account Fees
Account Keeping Fees ·         $10 pe $395 Annual fee
Transaction Fees ·         Unlimited free phone and internet transactions

·         B pay