The clients reached out to us about their plans to purchase multiple investment properties using their SMSF.
One member (female applicant) was over 65 and had began drawing money from her existing superannuation fund, while the second member (male applicant) was working as a chef supervisor in an oil rig in the Indian Ocean.
Their SMF was newly established for the purpose of the property investment, and the Super Guarantee was not deposited to the new SMSF.
Liberty was considered the most suitable lender for our client’s goals.
We ran scenario testing with the assessment team and sought the support from the BDM regarding accepting newly established SMSFs.
The elderly member needed to be removed from the SMSF, which meant the trust deed and other relevant documents had to be updated accordingly.
At the same time, we actively worked with the accountant to procure all the relevant documentation for the application.
Since we picked up this deal, the clients were able to purchase two investment properties via his SMSF within a period of 6 months.