Client looking to purchase the premises their business is leasing?
Tara has been running her full-function wholesaling business for eight years. She has the opportunity to purchase the warehouse her business has been leasing.
Roadblock
Tara discusses her purchase plans with her accountant, who says her tax returns aren't finalised. Concerned about her tight deadline and that she has not been making sufficient contributions to super, she reaches out to her broker.
Solution
Her broker speaks to RedZed, and we're able to provide an SMSF loan solution. We take a flexible approach to considering servicing outside of the fund to cover any contribution shortfall. Tara is able to proceed using proposed additional member contributions and alternative income verification. She is thrilled she now owns her business premises through her SMSF.
Sound familiar?
Do you have a client in a similar boat? Workshop the scenario or give our team a call!
Do you have a client looking to diversify their investment portfolio?
Jason recently met with his financial planner who suggested purchasing a residential property within his SMSF to diversify his investment portfolio. Jason is self-employed and has been contributing $20,000 into his super fund each year, but has a property he wants to purchase and needs to move quickly.
Roadblock
Jason is struggling to find a lender who doesn't require tax returns to verify his contributions.
Solution
Jason's contributions of $20,000 p.a., plus the proposed rental income, is enough to service the loan inside-the-fund. RedZed has flexible verification requirements for SMSF loans, including consideration without the need for fund or member tax returns. Instead, we verify by obtaining the last 12 months worth of super contribution statements. Jason is thrilled RedZed can turn this around quickly without the need for tax returns.
Does this scenario sound like a deal on your desk?
If you have a client in a similar situation to Jason, workshop the scenario or give our team a call!
Does your client need to make additional super contributions to qualify for a loan?
Jarrad is the owner of an apparel wholesaler. Jarrad has a self-managed super fund generating $46,000 in net income (existing contributions + new rental income + income from existing SMSF investments). He wants to purchase a residential property within his SMSF, and to qualify for the required loan, his SMSF needs to generate $55,000 in net income. Jarrad proposes making $9,000 worth of additional member contributions to meet the shortfall.
Roadblock
Jarrad keeps coming up against restrictive SMSF lending policies that don’t take too kindly to his sporadic super contributions or the fact that his business financials have not been completed yet. Jarrad calls his mortgage broker for support.
Solution
His broker immediately rings RedZed because he knows RedZed’s new range of SMSF products offer outside-the-fund servicing and accept flexible income verification for proposed additional member contributions! Jarrad can demonstrate his capacity to make the proposed additional member contributions and meet the minimum serviceability requirements. RedZed enables Jarrad to purchase an investment property within his SMSF.
Do you find yourself in a similar scenario?
Want to workshop a similar scenario? Workshop the scenario or give our team a call!
Exploring options beyond SMSF loans?
Take a moment to explore our commercial and residential loan scenarios and discover how we customise solutions to meet specific needs.
