Property investors rush to beat crackdown on SMSF loans

Discussion in 'Property Market Economics' started by JohnPropChat, 2nd May, 2019.

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  1. JohnPropChat

    JohnPropChat Well-Known Member

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    Property investors rush to beat crackdown on SMSF loans - Google Search

    The number of medical and legal professionals and business owners rushing to buy premises has soared in anticipation a future federal Labor government will axe self-managed super fund loans.

    Many are joining colleagues or partners to boost their prospects of financing deals under tough new borrowing guidelines imposed by lenders that require lengthy scrutiny of income and expenditure.

    “We have seen a 100 per cent increase in the amount of enquiry in the past six months from small business owners wanting to purchase their premises,” says Tom Tuxworth, NSW state director for Savills Australia & New Zealand.

    Peter Alvarez, director of Navigate Wealth, a buyers’ agent and financial adviser, says commercial buyers are doing SMSF property deals to beat a January 2020 deadline being set by a future Labor government to prevent property buyers leveraging their superannaution.
     
    JohnPropChat, 2nd May, 2019
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