SMSF residential loan repayment no freeze says STG

Discussion in 'Loans & Mortgage Brokers' started by Hillbilly, 3rd Apr, 2020.

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  1. Hillbilly

    Hillbilly Active Member

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    Does anyone know anything more about only SMSF Loans with an individual trustee being eligible for repayment deferral? Ours was set up with a trust which means it won’t be eligible. Can anyone tell me why?
     
    Hillbilly, 3rd Apr, 2020
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  2. spludgey

    spludgey Well-Known Member

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    St George deferral isn't a great option for residential either and should only be done if you really can't manage your current repayments.
     
    spludgey, 3rd Apr, 2020
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  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Amp allow deferrals for smsf trustees
     
    Terry_w, 3rd Apr, 2020
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  4. Hillbilly

    Hillbilly Active Member

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    My loan is with St George and am not in the position to move it right now. I just want to know why trustee loans are not eligible please?
     
    Hillbilly, 4th Apr, 2020
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  5. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Trustee loans are eligible.
     
    Terry_w, 4th Apr, 2020
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  6. Hillbilly

    Hillbilly Active Member

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    Where the trust is an individual, the loan is eligible for a payment deferral but in our case the trust is a company. Apologies I should have made that clear from the beginning.
     

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    Hillbilly, 4th Apr, 2020
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  7. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    The trustee you mean.
     
    Terry_w, 4th Apr, 2020
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