SMSF Loan Application Process
This is a guide only. Initial enquiry is taken and quotes are obtained to compare SMSF loans (approx. 1 week)...
This is a guide only.
- Initial enquiry is taken and quotes are obtained to compare SMSF loans (approx. 1 week)
- Lender recommendations are made to client to help them select their preferred lender
- Application forms are provided to the client (approx. 2 days)
- Application forms are signed and returned by client
- All supporting documents are supplied by client, accountant and solicitor. This includes the Bare/Property trust deed and SMSF trust deed.
- Loan application is submitted to the lender (approx. 2 days once all forms & supporting documents are received)
- Loan approved by lender (approx. 2 weeks for the decision to be reached). Note: This usually includes a review of the bare trust deed. If alterations are needed to the trust deed, the approval time will increase
- Documents prepared by Financier and their solicitor and sent to client (approx. 2 weeks)
- Client signs documents and arranges appointments with Financial Planners, Accountants or solicitors to sign Financial advice or Legal advice certificates where they have been requested by the lender.
- Client returns documents to lender.
- Lender certifies that all signed documents are correct and allows settlement to be booked (approx. 1 week)
- Loan settles
Please note the overall loan set up usually takes 6 – 8 weeks. In extreme cases or where supporting documents such as trust deeds are not available when requested, the process can take longer.