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Opportunities abound for brokers that embrace the self-managed super fund lending area, Sam White has claimed.
Speaking to The Adviser, Loan Market Group's executive chairman said a lot of commentators are embracing the concept of both using and borrowing from SMSF.
White described it as being both a growing and a specialised market.
The $420 billion sector is currently growing by 10 per cent each year, he said.
"We are seeing commoditisation start to come in, so prices for SMSF products are coming down. It used to cost $8,000 to $9,000 to get a client into this type of product, but it now costs approximately $4,000 to $5,000," he said.
The Adviser is reporting that White's comments come just days after an ATO announcement that it would allow fund members to use fund money for renovations.
Previously it said SMSFs could not use money from any source to improve property.
Three new lenders have entered this space in the last two months.
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