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A specialist commercial property lender is expecting new growth in SMSF commercial loans after the government rejected the FSI recommendation to ban LRBAs.
Thinktank’s head of sales and distribution Peter Vala said that having a clear path to move forward from this point is a very positive development for all concerned.
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“We are already seeing a major uptrend in loan enquiry and anticipate activity will continue to lift strongly with the previous uncertainty removed,” he said.
While some lenders have adjusted their requirements or, in some cases, stepped away from lending to SMSFs, Mr Vala says Thinktank has increased their commitment to the sector and see considerable opportunities for brokers and their clients in the period ahead.
“We have designed our SMSF loans for maximum flexibility to assist super fund members to acquire or refinance commercial properties for direct investment or to accommodate their business with lease arrangements back to the fund in place,” he said.
“We are more than happy to tailor a finance solution to suit the borrower's needs, with our SMSF loan product offering market-leading features such as loan amounts up to $3 million (75 per cent LVR), interest-only periods up to five years, and loan terms up to 30 years.”
Thinktank is currently offering SMSF loans from 5.35 per cent.
[Related: SMSF lending activity impacting brokers' activity]
