First Charter has released a service to assist Trustees of Self Managed Super Funds and their advisers (Accountants, Finance Brokers, Financial Planners and Real Estate Agents) a service to easily establish a specific vehicle to borrowing through a Self Managed Super Fund to assist in the purchase of investment property.
First Charter is usually involved in property development and property syndication have identified a new and unique service aimed at helping people buy a property in their self managed superannuation fund using a loan.
The process requires either the client or their adviser to have the knowledge and experience to not only put together the required documentation and steps to enable a superfund to legally do this, but also align all parties involved and ensure each party is talking to each other with the correct documentation and information. This ensures the deal gets processed correctly and on time by aligning the Superfund (buyer), the vendor (seller), the Mortgage or loan writer and the various legal entities involved. If not set up correctly, the Superfund can be in serious breach and result in penalties.
"You simply engage us at First Charter to handle the whole process" said Simon McGrath, Managing Director of First Charter Asset Management. It is a complete one stop service that can be used by Financial Planners, Accountants, Lawyers, Mortgage Brokers and Real Estate Agents to ensure their clients, when gearing a property via their super fund, have it handled accurately and timely so as to not jeopardize the sale process or the trustees of the Super funds legal obligations.