News
Previous News Items
- Brokers will not lose out in One Big Switch deal says MEZY chief
- Take ASIC seriously warns aggregator
- Financial planners not a threat to brokers - Liberty Network Services
- Rainy days no washout for mortgage holders says market leader
- MFAA boss says NCCP gives brokers certainty
- Exit fee ban helping non-banks
- NAB ties not a factor says MFAA president-elect
- Brokers acknowledged as equals, says major lender
- Kathy Cummings: Channel conflict eliminated
- SMSF "very lucrative" says Loan Market's Sam White
- SMSF attracting “huge interest” says Vow’s Tim Brown
- Pepper Home Loans: Too early to get excited
- Rate-matching signals return to competition - Dean Rushton
- Kim Cannon: Online revolution inevitable
- Rates on hold - not enough?
- Gerald Foley: Brokers made to carry "normal" lending risks
- Fee-for-service "strategically worthwhile" says CBA's Kathy Cummings
- Expert predicts FHB go-slow
- Confidence not solely to blame, says top mortgage broker
- Flexible commissions a boost to broker business
By Tim Neary
September 20, 2011
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.
Related Stories
Fee-for-service "strategically worthwhile" says CBA's Kathy Cummings - Strategically it would be worthwhile for brokers to work a fee-for-service into their business models, Kathy Cummings has said.
Kim Cannon: Online revolution inevitable - The development of online shopping will change the future of the broker and mortgage market forever, Kim Cannon has said.
 |
 |
| Phone (02) 9939 8771 |
