Macquarie Bank SMSF Property Home Loan

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Invest in property using your super with the Macquarie Bank SMSF Property Home Loan

Your Self Managed Super Fund (SMSF) can be used to buy a residential property with the Macquarie Bank SMSF Property Home Loan. Designed specifically for investment purposes, you get the chance to choose the options that work best with your SMSF and can purchase a property using your SMSF balance.

You should also note that Macquarie Bank offer a range of regular home loans for owner occupiers and investors if you do not to wish to use your SMSF for a home loan.

Things to consider about the Macquarie Bank SMSF Property Home Loan

This loan is suited for investment purposes only, so long as you have an SMSF or are planning to start one, you may use this loan to purchase assets. You may even use it to refinance the home loan of a property that your SMSF has already invested in.

Keep in mind that this loan also comes in a fixed rate version, with terms of between one and five years.

Features of the Macquarie Bank SMSF Property Home Loan

  • Loan to value ratio (LVR). This loan allows you to borrow up to 70% of the property value.
  • Loan terms. This loan has a maximum loan term of 30 years, meaning you can integrate this loan fully with any long term SMSF investment strategies you may have.
  • Repayment frequency. Pay your loan the way you want by choosing to make fortnightly or monthly repayments.
  • Repayment types. You have the option of making interest plus principal repayments or to use your extra funds elsewhere by making interest-only repayments. You are also permitted to make unlimited additional repayments.
  • Loan amount. Borrow anywhere from $150,000 to $5,000,000 to add an asset to your SMSF.
  • Split loan option. This loan allows up to six sub-accounts for those who want to take advantage of both the steady fixed rate and the benefits of a discounted variable rate.

Fees

Fees you can avoid

  • Monthly fees. There are no monthly maintenance fees with this loan.
  • Valuation fee. There's no valuation fee required for this home loan for properties worth up to $2,000,000.

Fees you can’t avoid

  • Application fee: $0. This charge covers the administration costs associated with your application.
  • Legal fee: $1,430. This fee covers the cost of the legal services needed to initiate this loan by the bank.
  • Exit fee: $400. At the end of the loan terms, you will be expected to pay this fee.

How to apply for a Macquarie Bank SMSF Property Home Loan

Make sure that this is the right loan for you first by checking that you meet the following eligibility requirements. It is highly recommended that you apply with the assistance of your accountant or financial planner.

  • Existing SMSF. You will have to either already have an SMSF or be in the process of establishing one if you want to use this loan to purchase an investment property.
  • Property. The loan is going to be used towards the purchase or refinance of an investment property as part of the SMSF.

Be sure to have the following information is available in order to expedite the application process:

  • SMSF information. You will be expected to divulge all information regarding your existing or upcoming SMSF.
  • Personal information. All applicants will have to provide complete personal information, including name, birth date and current address.

The flexible features that this loan offers make it one worth looking into but as many banks offer similar products you should compare products in order to ensure that you are getting the best rates with a minimal amount of fees.

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This page was last modified on 27 March 2017 at 5:57pm.

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14 Responses

  1. Default Gravatar
    LanceAugust 25, 2017

    I currently have a limited recourse loan with Latrobe Financial for a property in my SMSF. Is it possible to switch loans

    • Staff
      LiezlAugust 26, 2017Staff

      Hi Lance,

      Thanks for your question.

      While this SMSF property home loan can be used to refinance the home loan of a property that your SMSF has already invested in, your eligibility to switch loans will depend on your existing loan agreement with La Trobe. It will be a good idea to go through the terms of your current loan to check if there are any restrictions. Moreover, it’s also worth considering the cost of switching loan. You may use our switching costs calculator to check whether or not refinancing will be worth it for you.

      Cheers,
      Liezl

  2. Default Gravatar
    RoustamAugust 9, 2017

    Hi,

    Just was wondering if this 5.82% rate is still current, Macquarie Bank site shows different figure. Also, what is the liquidity requirement for this loan?

    Thanks

    • Staff
      JonathanAugust 9, 2017Staff

      Hello Roustam,

      Thank you for your inquiry.

      The rates we have on this page is as of March 27, 2017 only. As of Aug 9, 2017, updated rates are 6.22%pa Variable rate and 6.26%pa Comparison rate.

      Regarding the liquidity requirements, it has not been mentioned on their website. Usually this is around 10-20% of the property value. Kindly inquire with HSBC directly for this to be communicated.

      New Loans: 13 62 27 Monday – Friday 8am – 6pm (Sydney time)
      Existing Loans: 1800 007 722 Monday – Friday 8am – 7pm (Sydney time)

      Hope this helps.

      Cheers,
      Jonathan

  3. Default Gravatar
    DarrenJuly 14, 2017

    Hi
    I have my SMSF set up and a property almost ready for settlement but have been told I need 40% deposit.
    Can you advise if this is the case?
    thankyou

    • Staff
      LiezlJuly 15, 2017Staff

      Hi Darren,

      Thanks for reaching out. Just to confirm, you have reached finder, not actually Macquarie Bank and neither do we represent them.

      This home loan requires at least 20% deposit, subject to the lender’s assessment of your eligibility and financial capability. The lender will take into consideration factors, such as how much you earn, how good your credit rating is, and your track record of saving when deciding on the loan terms.

      I suggest you seek the assistance of your accountant or financial planner before you proceed with your loan application.

      Cheers,
      Liezl

  4. Default Gravatar
    RinkiMay 6, 2017

    Hi There,
    We have about $200k in our SMSF account and we are looking to buy an investment property. Please advise that how much can we borrow? Also what’s the criteria in assessing the loan application?
    Please provide as much details as possible.
    Kind regards
    Rinki

    • Staff
      AnndyMay 8, 2017Staff

      Hi Rinki,

      Thanks for your question.

      If you are looking to get a Macquarie Bank SMSF Property Home Loan, it has a maximum LVR of 80%. This means that you can borrow up to 80% of the value of the property you intend to buy. But please note that the maximum amount that you can borrow will ultimately depend on the bank’s overall assessment of your financial situation. You may directly contact Macquarie Bank for more information on how they assess loan applications.

      You may also check this page to compare other SMSF home loans.

      Cheers,
      Anndy

  5. Default Gravatar
    MartinNovember 17, 2016

    Hi just enquiring about SMSF loan, also the Documentation required to apply for an SMSF loan.
    Thanks

    • Staff
      MayNovember 22, 2016Staff

      Hi Martin,

      Thank you for contacting finder.com.au – a financial comparison website and general information service designed to help consumers make better decisions.

      If you are interested in applying for the Macquarie Bank SMSF Property Home Loan, it’s best that you seek the assistance of your accountant or financial planner before you submit your application as this type of loan is more complex compared to the regular home loan. Generally, you will need to disclose all the information regarding your existing or upcoming SMSF. To guide you which documents you need to provide, your financial planner can help you best with it.

      Cheers,
      May

  6. Default Gravatar
    DavidNovember 16, 2016

    we have a smsf account with macquarie and want to borrow $480,000 against a property worth $600,000. Do we need to have a certain amount in reserve?

    • Staff
      HaroldNovember 17, 2016Staff

      Hello David,

      Thanks for your question.

      Do we need to have a certain amount in reserve?
      -Yes, with this loan you’ll need at least 20% of the purchase price as a deposit. Since the total worth of the property is $600,000 you would need at least $120,000 as deposit.

      I hope this information helps.

      Cheers,
      Harold

  7. Default Gravatar
    RebeccaApril 18, 2016

    To go 80% LVR do you have to take out mortgage insurance? Are there personal guarantees involved in non recourse SMSF loans?

    • Staff
      BelindaApril 20, 2016Staff

      Hi Rebecca,

      Thanks for getting in touch.

      The Macquarie Bank SMSF Property Loan is a full documentation loan and the maximum insured amount you can borrow is 80% LVR.

      Unfortunately, Macquarie Bank does not accept personal guarantees for this product.

      If you’d like to discuss your eligibility for this loan, please click the ‘enquire’ button to be redirected to the Macquarie Bank website or to a mortgage broker page.

      Thanks,
      Belinda

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