Specialist Loans

Medico Sector Loans

How can TLIH Specialists assist doctors and medical specialists?

With several years of experience up our sleeve, our team has been providing dedicated services to Medical Practioners for over 10 years. We understand your business needs and personal finance requirements. Whether you are purchasing a medical practice, buying equipment or need to purchase a residential or commercial property, our experts will be there to guide you every step of the way.

SMSF Loans

Self- Managed Super Fund (SMSF) can be used to purchase an investment property. The rental income and capital growth generated by the investment property form part of your super fund's retirement savings. You can borrow money through your SMSF to purchase an investment, but you need a special SMSF loan to do it.

What is involved in purchasing the property through SMSF?

SMSF mortgage is more difficult to process, with fines of over $200,000 applying to trustees if their arrangements aren't properly structured. In addition, each lender will have their own restrictions, namely that you can't construct a new home, nor can you live in the home at any stage until you're in the pension phase.

You create your SMSF with the help of your accountant, who can also advise you of the pros/cons of investing in residential properties via your fund.

Decide who will act as a custodian for the property. The custodian holds the property title on your behalf until the loan is paid off, otherwise known as a 'bare trustee'.

Your SMSF loan application is submitted to a suitable lender.

The custodian signs the contract of sale and make deposit payments.

Once the loan is approved by the bank, the custodian puts the property up as security with the lender so the settlement can be affected.

SMSF cover the costs of stamp duty and legal expenses.

SMSF begins making repayments post settlement and covers other day-to-day expenses on the property as well as collecting the rent. If rent doesn't cover the repayments the difference will need to be made up through your SMSF contributions.

Once the loan has been paid off, the title can be transferred to the SMSF from the custodian, or the property can be sold off.

What are the benefits of borrowing through your SMSF?

Diversification of portfolio

Potential Tax advantages

Protection of your assets

Direct control of your Super Investments

What are the factors you need to consider before deciding to set up SMSF?

There are a lot of factors to consider before you decide to establish an SMSF. You need to do plenty of research and think it through thoroughly. Few important factors to consider are:

Is it cost-effective? Managing an SMSF can be quite expensive since there are a lot of fees involved.

Can you invest the funds effectively? An SMSF is usually a good option for people with a decent level of experience in investing.

Do you have all the information you need, and do you have time to manage the fund? Running an SMSF is complicated. Firstly, you need to be fully aware of all the laws, rules and tax regulations that govern an SMSF since you have a wide range of criteria you need to meet to qualify as an SMSF. You also need to have a good understanding of investing and the financial markets.

Consult your accountant, solicitor, a mortgage broker experienced in commercial loan deals and financial advisor before making any decisions.

Most lenders have pulled out of the SMSF home loan market due to the potential risks associated with these products for lenders. And it's getting increasingly hard to find lender who offers these products. That’s why you need an Expert advice from an Experienced Loan Specialist who can guide you in every step of SMSF loan.

Every borrower is different, so knowledge expertise and experience matter.

Contact our experienced team at TLIH now