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SMSF commercial loans to grow
New growth is expected for self-managed superannuation fund (SMSF) commercial loans as considerable opportunities for brokers and their clients lay ahead, according to Thinktank.
The specialist commercial property lender welcomed the Federal Government's rejection of the Murray Financial Services Inquiry recommendation to ban on SMSF borrowing to buy property.
Thinktank head of sales and distribution, Peter Vala, said "while we had always maintained the view that there was a low probability of any change in the commercial property area of SMSF lending, having a clear path to move forward form this point is a very positive development for all concerned".
"We are already seeing a major uptrend in loan inquiry and anticipate activity will continue to lift strongly with the previous uncertainty removed," he said.
Vala said although some lenders had adjusted their requirements or had stepped away from lending to SMSFs, Thinktank had increased their commitment to the sector.
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