BAD CREDIT SMSF LOANS
Are your SMSF loans affected by your bad credit rating?
Don’t let bad credit stop your SMSF Loan. Everyone deserves the right to a secure financial future.
At SMSF Loans Experts, we offer lending solutions that are especially geared for clients who are affected by a bad credit rating. Many lenders are wary about offering loans to SMSF with a less than perfect credit score, so we use our expertise to assess your situation and tailor a solution to help get you across the line. . Depending on your circumstances, we can explore the following SMSF lending solutions:
- “Massaging” your Self Managed Super Fund loan application through a prime lender at normal rates and fees.
- Applying through a specialised SMSF lender while your credit file is being repaired.
- Borrowing against your existing equity to lend to your SMSF.
We can assess your financial situation and find a solution to get you back on the right track through SMSF loans.
What do lenders think of a bad credit profile?
Usually, banks and lenders do not approve SMSF loans for people who have a bad credit rating. SMSF lending is a new concept, and lending policies are not very flexible.
Banks are mostly interested in the trust income of your Self Managed Super Fund, and whether there is enough liquidity in the fund for you to afford the mortgage.
However, because you are the trustee making the guarantee, they will also consider your asset-to-liability position, as well as your credit history. Lenders who are ready to provide you with an SMSF loan despite your bad credit position will charge you a higher interest rate due to a higher risk for SMSF lending.
The good news is that we, at SMSF Loan Experts, have several connections to prime lenders who approve loans to SMSF with normal rates and fees.
How to get approved for an SMSF loan despite having bad credit
If you want to get approved for an SMSF loan despite your bad credit rating, you’ll need to tell your lender how much the defaults were for, when they occurred and whether they’re now paid or unpaid. They’ll also like to know how long it’s been since you incurred a bad credit listing and how you’ve moved past the life event. The best way to make your case strong is by providing them with as much evidence as you can.
Don’t let a bad credit rating impact your financial future.
Call one of our experts for a confidential discussion to determine your options for SMSF loans - dial 1300 781 680. Please note, this service is for loans to SMSF only, for applicants who wish to purchase an investment property inside of their SMSF.
