Recent changes to the Superannuation Act now means that a self managed super fund (SMSF) in Australia can borrow funds to invest in property. The mortgage brokers at Intellichoice can assist clients with a SMSF home loan to buy property.
Online PR News – 21-April-2010 – – Until recently, self managed super funds (SMSF) in Australia were not permitted to borrow funds to invest in property.
However, changes to the Superannuation Industry Supervision Act 1993 (SIS) on 24 September 2007 now means that a self managed super fund in Australia can borrow funds to invest in direct property and the mortgage brokers at Intellichoice are available to assist clients with a SMSF home loan. The company also has access to investment properties in Australia.
Intellichoice Financial Services has noticed the popularity of self managed super funds borrowing to buy property.
Intellichoice Financial Services CEO, Darin Hindmarsh, acknowledges that many clients get a SMSF loan to buy property because of the benefits.
"Clients only pay 10% capital gains if the property is held for more than 12 months and potentially nothing if the property is sold when the super fund is in pension phase," says Hindmarsh.
The Australian mortgage brokers at Intellichoice can assist clients to get a SMSF home loan from their panel of approved lenders. The company also has access to a wide range of investment properties around Australia, including Sydney, Melbourne, Brisbane and Perth.
Darin Hindmarsh, CEO of Intellichoice says “there is no limit to the type of property you can purchase through your SMSF, for example, residential, commercial, retail, rural or even holiday apartments.”
Before setting up a self managed super funds, it is recommended that clients get professional financial advice first to ensure this is the best option.
For assistance with a self managed super fund home loan or for more information about buying property with with a SMSF, speak to a mortgage broker from Intellichoice on +61 7 3624 1900 or visit the website for details.
An Intellichoice mortgage broker from Australia have helped numerous clients with a tailored loan product to suit their specific needs. The firm specialises in home loans, personal loans business loans, invoice finance and owner builder finance.