Many smsf loans are run by small business owners. These self employed people have often not completed all their paperwork including updated financials and tax returns.
In these circumstances is it still possible to qualify for a smsf property loan? The answer may surprise you.
If the residential investment property is bought in the name using a corporate trustee then this may be possible. As a guide, the rent must cover the loan repayments and this would normally equate to the loan being approx. 50% of the property value. e.g on a purchase price of $400,000 then the deposit would need to be $200,000.
Of course all parties must have clean credit and all applications are subject to a lender’s normal credit approval and assessment criteria.
Want to know more, please call us.
