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I am loving your site as it has a wealth of information on setting up and running an SMSF. I have a newly set up SMSF and am committed to a property purchase within the fund. I am currently looking to arrange the finance. Do you have a current article on SMSF lenders? My research so far shows State Custodians have the best variable rate of 5.09% while Bank of Queensland has the best fixed rates of 4.29% for three years and 4.59% for one, two, four and five years.
A: Thanks for the terrific feedback.
No, we haven’t published a more recent update on SMSF lenders, because the talk has been that the Government will move to restrict or ban it (prospectively, not retrospectively). You may recall that this was one of the recommendations from David Murray’s Financial Systems Inquiry. The Government is shortly expected to announce its response to the Inquiry’s recommendations.
Recent changes I am aware of include both NAB and ANZ pulling out of this market, partly in response to APRA clamping down on investment lending for housing.
State Custodians is certainly a player, as is BOQ. I would also look at St George, who is probably the market leader.
