Borrowing money with your SMSF can be a very daunting and lengthy process if you don’t have the correct help and support. Jaime at Gippsland Finance Solutions is an accredited SMSF broker via the MFAA and will help you from start to finish. She will assist you with not only the finance process but be there for support through setting up trust deeds with your accountant, reviewing contracts with your conveyancer and ensuring you are aware of all the steps involved.
It is vital you get the correct advice from your accountant to ensure your fund is compliant with the SIS Act and all legal requirements have been met.
It is strongly advised that you get in touch with Jaime as soon as you start to look at borrowing in your SMSF as it can be costly to set up and you need to ensure you are eligible to borrow prior to setting up new funds.
There is a limited amount of banks that will lend to a SMSF so again it is recommended you see a broker rather than the bank directly as many banks have varying policy requirements and although you may not fit at one bank, you may at another. Get in touch with Jaime today to discuss.