A free SMSF eligibility checklist from The Finance Yogi covering the fund balance, trust deed, bare trust, deposit and compliance needed before an LRBA.
Before your self-managed super fund can borrow to buy property, it needs to meet a set of strict requirements. This free checklist covers the boxes to tick before an LRBA.
Fund balance, trust deed, bare trust, deposit and compliance all matter – and getting them right protects your retirement savings.
As your local Perth broker, The Finance Yogi checks your fund against lender requirements and works alongside your accountant and adviser.
SMSF borrowing is only possible through a Limited Recourse Borrowing Arrangement, and lenders have strict requirements. The checklist falls into three groups: your fund and its structure, the deposit and liquidity, and compliance.
Working through these before you apply saves time and avoids a declined application later.
Tick off each item below, with your accountant and adviser involved, and we will match your fund to the right lender.
SMSF lending is as much about the fund’s strength and compliance as the property itself.
Run this checklist, and we will confirm your fund is ready and handle the finance.
These confirm your fund is set up correctly to borrow. The bare trust is essential – it holds the property under the LRBA. See our guide on can my SMSF buy property.
Most lenders prefer a corporate trustee structure for SMSF loans.
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Most SMSF lenders want a fund balance of around $200,000 or more, a deposit of 20-30% for residential (25-35% for commercial), plus purchase and setup costs.
The fund must also retain a cash buffer after settlement, so it can meet loan repayments and expenses even if the property is vacant for a time.
Check the numbers: our guide on SMSF loan deposit and costs covers what you need, and the borrowing power calculator helps estimate repayments.
The investment must meet the sole-purpose test (held solely to provide retirement benefits), be conducted at arm’s length, and – for residential property – not be used or rented by any member or related party.
Commercial property can be leased back to your own business, provided it is at market rates and properly documented. Breaching these rules can have serious consequences.
We keep the structure compliant throughout. See the full service on our SMSF loan broker Perth page.
Work through the final list below, with your accountant and adviser, and your fund will be ready to apply.
We then match your fund to an SMSF lender, arrange approval, and manage settlement compliantly.
Tick these off and your fund is ready to borrow. For the full picture, read our complete SMSF property loan guide, or explore our finance services.
Book a free, no-obligation chat and we will check your fund against lender requirements.
Source: SMSF guidance from the ATO, and super information from ASIC MoneySmart. SMSF rules are complex – seek licensed advice.
