SMSF Loans Putstanding Value: Homeloans.com.au
According to the Australian Taxation Office (ATO), self-managed superannuation funds represent the largest stand-alone chunk of the superannuation market in terms of asset size, and more than 1 million Australians use a SMSF to save for their retirement. Lending via a SMSF is also popular, with ATO statistics showing more than $21 billion of lending as at June 2016.
In 2016 CANSTAR has assessed the SMSF loan products offered by 14financial institutions, with Homeloans.com.au achieving a 5 star rating for variable rate loans.
|Outstanding Value||SMSF Loan||Variable||Homeloans.com.au|
Not only did homeloans.com.au offer a below market average variable rate at time of assessment, it also offers a very strong array of features, including the following:
- Both individual and company trustees are eligible to apply for a loan
- Personal guarantee is not required
- Refinancing is available
- Max LVR is 80%
- Rental income can be used to assess the serviceability of the loan
- Employer SG and voluntary contributions are allowed
- Lump sum and additional repayments are allowed
- Split facility is available
- 90 day pre-approval is available
A non-bank, Homeloans.com.au is listed on the ASX and was founded in 1985. Major shareholders include National Australia Bank and Macquarie Bank. In October 2016, Homeloans merged with another non-bank lender, RESIMAC.
As the name suggests, homeloans.com.au specializes in home loans!
” The Homeloans Classic Self-Managed Super Fund (SMSF) product allows established Self-Managed Super Fund trustees to borrow funds for the purchase or refinance of residential investment properties.
- Low variable rates
- LVR up to 80%
- Loan amount up to $500,000
- No on-going fees
- Principal & Interest or interest only (up to 10 years)
- Flexible repayments
- All the added benefits of being a Homeloans customer”
Source: homeloans.com.au. Correct at 1/11/6