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ISCOVER
Staff Reporter
Macquarie Bank has broadened its range of mortgage solutions, adding an SMSF property loan to its suite.
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Macquarie head of mortgages product James Casey said the SMSF property loan was developed in response to growing demand for property assets in SMSFs.
“One of the key reasons SMSFs are growing at such a rapid rate is that they offer the flexibility for people to choose where their money is invested. Currently 15 per cent of the assets in SMSFs across Australia are allocated to real estate, and as the number of SMSFs grows, we also expect the focus on real estate as an SMSF investment to grow,” Mr Casey said.
The growth of SMSFs has accelerated in the past ten years, with SMSFs accounting for almost one third of the $1.2 trillion of superannuation assets in Australia. SMSF assets are expected to more than double in funds to approximately $1.0 trillion by 2020.
“Macquarie has more than 20 years’ experience with SMSFs, and the SMSF property loan enhances our broad range of SMSF services and solutions. We understand the complexities involved with SMSFs and, in particular, with SMSF property lending, and provide intermediaries with direct access to our credit specialists to support them and their clients throughout the application process,” said Mr Casey.
