KazbrownMember@kazbrownJoin Date: 2012Post Count: 1
HI is anyone out there using there super to fund there investment property, do you have any advice on this there seems to be higher fees with the banks for Legal reasons, Any info would be appreciated.Jacqui MiddletonParticipant@jacmJoin Date: 2009Post Count: 2,539
The high fee you are referring to is partially due to the fact they have to read through trust deeds of your super fund to ensure it will not be breaching any SMSF laws. Lawyers are not cheap.TerrywParticipant@terrywJoin Date: 2001Post Count: 16,190Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,850JacM wrote:Lawyers are not cheap.
But they are easykong71286Participant@kong71286Join Date: 2009Post Count: 261
With all Terry's credentials I wonder how much he chargesTerrywParticipant@terrywJoin Date: 2001Post Count: 16,190
My fees are pretty reasonable I think. I tend not to charge hourly rates for the legal work and do fixed price agreements. For the mortgage broking side I generally don't charge, for the tax side I work with accountants who charge fixed fees for returns.Richard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,018
Sorry i have to disagree.
I do a fair number of SMSF loans and you would be surprised as to the difference in costs / interest rates between lenders.
The big 4 (Anz does not write residential SMSF loans) are out of touch when it comes to their charges and costs hoowever away from these lenders the competition is good.
Remember many lenders charge on the basis that they consider the loan to be a Commercial transaction.
Get your Mortgage Broker to shop around and i think you will be see the difference.
As for the comments on lawyers fees i never have a problem in paying a sensibleprice for good advice.
I know what we charge a client for doing a development finance deal or putting an investor into a Vendor Finance deal and i bet it is lot more than Terry charges for legal advice.
Yours in Finance