Macquarie Bank offers new SMSF product

property macquarie bank SMSFs macquarie adviser services real estate

30 April 2012
| By Staff |
image
image
expand image

Macquarie Bank has expanded its offering into the self-managed superannuation fund (SMSF) arena, announcing this week the launch of an SMSF property loan which it says is intended to provide direct exposure to residential investment property assets.

Announcing the launch of the new product this week, Macquarie Adviser Services head of mortgages product James Casey said it had been 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," he said.

"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."

Macquarie's SMSF property loan is a limited recourse loan available to Australian residents with an existing SMSF or who are currently in the process of establishing an SMSF, or to SMSFs wishing to refinance a property loan from another lender.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

3 weeks ago

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

3 weeks 5 days ago

Interesting. Would be good to know the details of the StrategyOne deal....

1 month ago

Insignia Financial has confirmed it is considering a preliminary non-binding proposal received from a US private equity giant to acquire the firm. ...

6 days 4 hours ago

Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses. ...

1 day 19 hours ago

Specialist wealth platform provider Mason Stevens has become the latest target of an acquisition as it enters a binding agreement with a leading Sydney-based private equi...

23 hours 59 minutes ago