SMSF MORTGAGE BROKER MELBOURNE
Access tailored and comprehensive loan and refinancing options from one of Melbourne’s leading mortgage brokers at Mel Finance.
Acquiring a Self-managed Super Fund Loan
When seeking advice regarding a loan to buy an investment property, you need the person providing the information to be experienced and reliable. Mel Finance has earned its reputation as a trustworthy mortgage broker because we are dedicated to supporting our clients to reach their target outcomes. Our highly qualified team can provide extensive guidance regarding loans and refinancing and help you to make the most appropriate decisions for your future.
As a boutique mortgage broker based in Melbourne, we offer flexible and efficient service that is tailored to your specific needs and goals. We are proud to offer personal support, which large corporate firms are often unable to provide. If you are looking for assistance with financial planning such as a self-managed super fund (SMSF) loan, we can help.
What Are SMSF Loans?
What Are SMSF Loans?When seeking advice regarding a loan to buy an investment property, you need the person providing the information to be experienced and reliable. Mel Finance has earned its reputation as a trustworthy mortgage broker because we are dedicated to supporting our clients to reach their target outcomes. Our highly qualified team can provide extensive guidance regarding loans and refinancing and help you to make the most appropriate decisions for your future.
As a boutique mortgage broker based in Melbourne, we offer flexible and efficient service that is tailored to your specific needs and goals. We are proud to offer personal support, which large corporate firms are often unable to provide. If you are looking for assistance with financial planning such as a self-managed super fund (SMSF) loan, we can help.
How Mel Finance Can Help With Your SMSF Loan
SMSF products were once more widely available than they are now. Recent industry changes have resulted in some mainstream lenders removing these products from the market, which can affect how much you pay. Mel Finance has a portfolio consisting of more than 30 lenders, enabling us to find you a competitive SMSF loan appropriate for your requirements and goals.
An SMSF loan usually has a maximum loan-to-value ratio of 75%. Regardless of whether you are aiming to establish a self-managed super fund or if you have an existing super fund and would like to buy or refinance a property, we can assist you to get the most out of your SMSF loan.
Find the right SMSF loan for you with Mel Finance’s experienced support.
The Benefits of a Self-managed Super Fund Loan
The Benefits of a Self-managed Super Fund LoanSMSF loans may offer a range of benefits. Anyone can establish a SMSF loan, though they are more commonly used by people with higher incomes who have more money to roll over into the SMSF fund due to the larger contributions they may make. SMSF loans may be a useful move for some people when planning for retirement.
Some examples of who may find a SMSF loan advantageous include:
Investors
If you are an investor, this type of loan may provide you with a way to diversify your superannuation portfolio with property assets.
Business Owners
SMSF loans can be used to purchase business premises. This may help you grow your company.
Gaining a loan through a self-managed superannuation fund can also enable loaners to receive tax benefits on the interest made.
If you are considering setting up a SMSF loan, it can be prudent for most people to engage an accountant who deals with SMSF loans frequently due to the complex nature of the process involved. We can help maximise the benefits of using a SMSF loan and ensure it is set up and managed correctly to adhere to laws and optimise returns.
Your SMSF Loans Questions Answered
There can be a higher risk for a bank with SMSF loans, so you generally pay more than some other types of loans. Due to the non-recourse setup of the LRBA structure, banks add a premium to the required SMSF interest. When interest rates rise, you should receive the increase in full from the bank as a SMSF loan holder.
The minimum loan amount for a SMSF is $50,000. The maximum is $1,000,000. This depends on property approval and the fund’s borrowing capacity. There is typically up to 80% LVR allowed with loan terms of 30 years. This involves up to five years of interest-only repayments.
SMSF members generally do not pay stamp duty on trust deeds. There can be some circumstances in which this government-imposed tax is applied though, so it can be beneficial to discuss this with your accountant to avoid legal and financial fees if the fund is not managed correctly.
Because you generally require a loan-to-value ratio (LVR) of 80%, you will need a 20% deposit. When using an SMSF loan for a commercial property, the LVR is usually 70%, so the deposit will be 30%.
During the fund accumulation phase, the tax rate is generally 15%. A taxable income amount is determined when your assessable income is combined and eligible deductions are incorporated.
Why Use Mel Finance to Set up Your SMSF Loan?
We recommend obtaining independent financial and accounting advice before pursuing a SMSF loan to ensure it is structured and processed correctly. We can also help you acquire a financial planner’s certificate or acknowledgment letter, which is required by some lenders to accept your application. SMSF loans can be multi-faceted and complicated and not all mortgage brokers deal with them. Contact Mel Finance for personalised and experienced support from accountants who are familiar with these loans.
Engage With Experienced Mortgage Brokers at Mel Finance Melbourne
Google Reviews
I came across Lumbini on a Google search on my journey to buy my home, usually I'm sceptical of agents brokers etc. , however, very surprised and I highly rate Lumbini !, as buying any property can be a daunting process. Lumbini was clear , concise, straight up and tailored a package to my situation , very good communication via Zoom and on every step to make sure the process was smooth! , I couldn't fault him, and I'm fussy ! You would be hard pressed to find a better broker in Melbourne, Highly Recommended !!
Athan KFebruary 27, 2023
I cannot recommend Lumbini highly enough, he has been absolutely outstanding in refinancing our loans. We tried for 18 months with three other brokers who wasted our time with false assurances. Lumbini always kept us up to date with progress, and was very professional, efficient, friendly and knowledgeable. I will be contacting Lumbini in future for all our finance needs. Thank you so much, Lumbini, for being the best in the business.
KJSeptember 27, 2022
I am a first home buyer who was looking for a trustworthy and experienced mortgage broker. I decided to contact Mel Finance (Lumbini) after reading the Google reviews other people have left. Lumbini is a very skilled broker and is very empathetic to my situation as a first home buyer who needed to settle within a very fast timeframe. If you're looking for a mortgage broker, look no further - you've hit the jackpot!
Jason LauanDecember 31, 2022
Lumbini has guided me through the purchase of my first home for what has ended up being an on-again off-again search since pre-Covid times. He is highly knowledgeable, extremely friendly and very patient. Lumbini has provided a lot of support throughout my property journey, always willing to answer my questions and provide quality advice. I am really pleased with the service that Lumbini has provided and definitely recommend choosing Mel Finance. Thanks Lumbini 🙂
KMMarch 10, 2023
