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In a bid to enhance their skill set, some of Australia’s top mortgage brokers have signed up to the Mortgage & Finance Association of Australia’s (MFAA's) SMSF training program.
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According to research by the MFAA, direct property investment through SMSFs now makes up more than 10 per cent of the 500,000 SMSFs in Australia.
As such, it is not surprising to see some of the nation’s elite business writers educating themselves in the area.
The MFAA 2013 Mortgage Broker of the Year, Ruan Burger, principal of Time Home Loans in Brisbane; Justin Doobov, managing director of Intelligent Finance; and Brett Abikhair, co-founder of The Selector Group are among the first brokers to sign up to the program.
“We have recognised the opportunity in SMSF loans is great and I want to ensure we at Time have a good understanding of the product and the process in delivering property loans for those with self-managed superannuation,” Mr Burger said.
“SMSF lending is obviously a great opportunity for brokers to extend their service offering and we strongly recommend all of the MFAA broker members take up the opportunity to be trained to at least understand the process involved in getting a loan for an SMSF.”
The MFAA training involves two different programs, catering for those who simply want an understanding of SMSF lending and limited recourse borrowing, and those who want to both understand and project manage the SMSF lending process.
MFAA chief executive Phil Naylor said the industry body was delighted to see the country’s top mortgage brokers signing up to the training programs.
“More than 3,000 SMSF are being established each month in Australia and, with the proper training, mortgage brokers have the opportunity to deepen their relationships with clients through managing the process of gaining a loan for clients’ SMSF’s,” Mr Naylor said.
A free 40-minute video on demand outlining the training programs is available on the MFAA website at www.mfaa.com.au.
