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Staff Reporter
Liberty Financial has today launched a lending solution for self-managed superannuation funds seeking to directly invest in residential and commercial property.
The new product, SuperCredit, will allow SMSFs to borrow up to 80 per cent of the value of residential property and 70 per cent of the value of commercial property.
Liberty’s general manager – personal business Kendall Mahnken said SuperCredit was available to funds of any size and enjoys wide loan acceptance criteria.
“The introduction of SuperCredit continues our strategy of developing a range of lending solutions meeting the needs of both consumer and business customers,” Ms Mahnken said.
SMSFs currently account for more than 30 per cent of total superannuation assets and comprise more than 400,000 funds. SuperCredit will be available through Liberty-accredited introducers.
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