STG SMSF Loan Changes

[Paul@PFI]

Another reason to use STG for a SMSF loan - http://www.smsfadviseronline.com.au...SFAdviser_Bulletin15_01_2015&utm_medium=email

STG are removing the ludicrous "financial advice certificate" which was frustrating or expensive to obtain.

 

[Terry_w]

Good news Paul

But they have unfortunately changed their policy on the personal guarantees - required for all SMSF loans now.

 

[Paul@PFI]

That changed a while back and was inevitable. It was making their parent owner look a bit silly.

I wonder if Wpac will also lift the certificate requirement ?

 

[Qlds007]

I think overall it is a good thing (we were getting 2/3 enquiries a week asking us to sign off on them where other Brokers had done the initial loan) but as Terry mentions the Dragon is so quirky with so many of it's policies and proceedures you can do better with less stress.

Course time will tell and if this Govt looks to ban SMSF borrowing anyway it will be a pointless exercise.

Cheers