Posts tagged with: Client Testimonials

How easy is it for your SMSF to borrow if you receive the right advice from the right people

Posted on September 17, 2020

Many of our clients benefit from buying a property in their Self-Managed Superannuation Fund using borrowings as this structure provides tax and superannuation advantages and asset protection.
The SMSF(s) can borrow from a related party or directly from the bank. Our firm provides comprehensive advice in relation to borrowing structures which is backed up by the right legal documents, the right tax advice, the right financial planning advice and the right relationships. We have established a great relationship with banks and brokers to ensure the borrowing process is quick, efficient and even pleasant.

Here is the experience from one of our clients (Tatiana T.) we want to share with you:

P  Have you previously discussed with your accountant buying a property in your SMSF with borrowed money and what was their response?
     “Yes, I had discussed this a few years ago but was advised by the accountant that this was an expensive and complicated way to invest”

P  Why did you decide to seek advice from our firm?
     “I have known your firm for many years and I knew that I could get the best advice for our situation.”

P  Our review of your fund’s trust deed indicated that the deed was old and not complying with the current SIS act and tax legislation thus providing limitations in what you can do with your superannuation assets. Our recommendation was to upgrade the deed and set up a holding trust structure for borrowing purpose. Did you find this process quick and efficient?
     “Yes, the process was really quick and efficient.”

P  In our initial meeting we explained that we work together with a broker specialising in SMSF borrowings and have established a good relationship with banks lending to SMSF(s). We held “around the table” meeting with the bank, broker and yourself to discuss the best lending strategy and loan requirements. Did you find this approach useful, practical and efficient?
     “Yes, this is the best approach that I could recommend to anyone. It was the best way to negotiate and save time.”

P  How did you find the experience with our SMSF specialist Julie Dolan who provided the Statement of advice and financial certificates for the bank?
     “Julie is very nice. I have received very professional advice in accordance with my personal goal to purchase a direct property within a self-managed superannuation fund via borrowing taken out by the fund.”

P  We liaised on your behalf with the bank and your solicitor at all times during the loan application process and ensured that all documents were completed correctly in accordance with the legislative and bank requirements. Did we give you a peace of mind that the application would go smoothly and satisfy your requirements?
     “Yes, it definitely gave me a peace of mind and the whole process was very efficient and smooth. In my situation, when I’m working long hours I wouldn’t be able to do it properly and without stress.”

P  Were you satisfied with the loan terms and conditions negotiated with the bank?
     “Yes, I’m very happy with the loan terms and conditions negotiated with the bank.”

P  The entire process from the date we reviewed your fund, provided advice and set up the new structure to the date of the loan approval took less than a month. Were you satisfied with this time frame and the experience?
     “Yes, I’m satisfied with the time frame and the experience.”

P  Will you buy another property using this structure and our help?
     “Yes, I’m already thinking about buying another property in a few months using this structure and the help from your firm.”

P  Overall how would you rate our service?

P  Would you recommend us to other SMSF(s) seeking advice in relation to borrowings?
     “Yes. I would definitely recommend you to other SMSF(s).”

P  What was your overall impression of our firm and our team when you visited us?
     “Very friendly and helpful.”

If you are thinking of borrowing in your SMSF, you know where to come. We will be delighted to assist you.

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