I was about to sign up for esuperfund and thought I should read their terms & conditions. It says you can only borrow from St George for Residential property, Westpac for commercial and can only do any trading of shares etc through commsec or ebroking. The share trading doesn't worry me much as I'd probably choose one of them anyway but only one choice of mortgage provider doesn't seem too flash. Before I read this I just thought St George was their preferred provider not the only approved one. Well it says if you don't use these banks then they reserve the right to terminate you as a client. Anyone had any experience borrowing for property with esuperfund?
imo if you are going to do something that complicated go with a proper accountant, not a no frills budget one like e-super im with esuper and all i do is park cash,and buy bullion.....its good for that
It is not just property they also get trailing fee's in all the bank accounts from the ANZ bandits as well. The whole low cost scam is just that. You really should run your super fund as a business. Kind Regards non recourse
What Unfunkable said^^^^^^ Buying a property in the Superfund is a complex task and you will need a solicitor to give you advise as well as draw up the bear trusts as well as anymore trust deeds the bank wants. I wouldn't be using a no frills DIY superfund for that. Too many things can go wrong.
There is a group in Glen Waverley I have mentioned before who hold meetings once a month in a hall and they charge $3 to cover the cost of the hall and your coffee or tea. They have nothing to sell and they are there to help each other and they run rings around most so called investment and super advisors. They have been going now about 7 years and have about 600 members. The average number at the meetings is about 100. The meetings go for about 2 hours. They have guest speakers plus they are blessed with a lot of switched on members who share their knowledge. They teach you how to manage your super directly using your trust deed and the SIS act and there is something for the rank beginner to the pro's. Kind Regards non recourse
#nonrecourse I ended up getting BGL software and noticed they have all the docs on the database, if I had of known that earlier I would have saved $138, oh well have been setting it up last few days looks very easy to navigate and straight forward for adding and modifying account setc, thanks for the tip
