Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Firstfolio introduces New-Loan SMSF product

Staff Reporter 2 minute read

Firstfolio, via its mortgage management arm New-Loan, has launched an investment product for self managed super funds.

The new product is intended to take advantage of an anticipated shift in SMSFs’ investment preferences from equities to bricks and mortar.

The New-Loan investment warrant, funded by ING, utilises a combination of the property’s rental stream and compulsory superannuation contributions to repay the outstanding loan balance on a residential investment property.

Firstfolio managing director Mark Forsyth said the flexibility of the product would appeal to a wide range of SMSFs, which according to the latest AMP Capital/Investment Trends research, have an estimated $11 billion waiting to be invested.

Forays by other non-bank lenders into this product area have not previously enjoyed much success however wholesale products and pricing manager George Zakher said the market offered tremendous opportunity.

Advertisement
Advertisement

“With the recent turmoil in sharemarkets a lot of SMSFs will look at this and say they don’t want to go through all of this again in a few years time,” he said.

“We are anticipating a push towards self-owned property for self managed super funds.”

Mr Zakher also said the new product was different to anything else on the market.

“There aren’t many products similar to this available, only a handful of the major banks offer them,” he said.

“What makes ours different however is that it gives the fund and the members much greater control. It’s a lot more flexible and easier to get your head around.”

Published: 29-10-08

Today's other news

 

Firstfolio introduces New-Loan SMSF product
default
TheAdviser logo
default

TODAY'S POLL

View results >

Who do you aggregate through?

Thank you for your vote, you can see the results here.

more from the adviser
digital Brokers cite refinancing as key profit driver

The vast majority of brokers believe that refinancing clients is ...

2017 09 031 Mortgage-holders explore refinancing amid COVID-19

New research has revealed that the majority of mortgage-holders b...

cash money rolls Funding offered for SME financial wellbeing projects

A major bank’s investment vehicle is offering $150,000 to entre...

FROM THE WEB