Beyond the Banks SMSF loan    

                                              

Loan Characteristics

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The SMSF Investment Loan is aimed at those looking for simplicity and flexibility with their SMSF residential property investment. The SMSF Investment Home Loan comes with a 100% offset account for tenant payments. This loan is perfect for SMSF property Investors.

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Maximum Loan size - Single security up to $750,000 — Maximum Exposure $1,000,000

Loan purpose - To purchase or refinance a Residential property for Investment.

Maximum loan term - 30 years

Loan to Value Ratios - Metro and Non Metro up to 75%, Inner City — 70% and Regional — 60%

Repayment basis - P & I, or Interest Only. IO not available over 70% LVR (add 1% to the rate)

Maximum Interest only term  - 5 years.

Credit History - Clear Credit History only.

Split Loans - Available. Split your loan into more than one portion.

Repayment Frequency - Weekly, Fortnightly and Monthly, Monthly on Interest only.

Voluntary repayments - Extra repayments can be made at any time without penalty, no re- draw available.

Offset available - Yes, 100% offset available. 

Transaction fees for Offset - Free unlimited transactions.

Security - Houses, Townhouses, Apartments, Units (including Off the Plan purchases) supported by a Limited recourse loan which complies with all of the relevant legislative requirements. Property must be a minimum of 45 sqm excluding Balconies and car spaces.

Income Assessment - Serviceability is calculated as follows: 100% of SGC contributions for all Trustees, plus 80% of the rental income less an allowance of $4000 for running costs for the SMSF.

 

Liquidity requirements - Net assets $120,000, minimum of 7.5% of the loan remaining in the fund after settlement.

Independent Legal and Financial Advice - Required for all applications.