SMSF Lending (NSW) — 2014 SMART 100

SMSF Lending (NSW) — 2014 SMART 100

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This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.

1. THE BEGINNING

This innovation came to life when…

I noticed that there was very little information and very few services for super fund lending in the Australian market and most mortgage brokers lacked the expertise, knowledge and experience to handle SMSF lending.

2. WHAT & HOW

The purpose of this innovation is to…

The purpose of this innovation is to determine if a person can borrow in a super fund. If successful, they are able to commence an application for a loan by answering 10 questions with the loan document prepopulated for signing and then sent to the lender.

It does this by…

It does this by asking questions of the SMSF member and then calculating if the SMSF has enough income to service the property and enough saved super money to complete the purchase of a property. We then capture the fund member details, pre-populate the application and forward it to the lender for approval.

mysmsf

3. PURPOSE & BENEFITS

This innovation improves on what came before because…

This innovation simplifies qualification and application by combining it into one form, it further reduces the time take to manually complete a SMSF loan application and it compares the market for the best providers in the SMSF lending space, based on the type of property being purchased and the employment type of the member of the SMSF.

Its various benefits to the customer/end-user include…

Allows customers to simply compare the best SMSF lender products, determine if they can borrow and then allows them to start a loan application.

4. COMPETITIVE LANDSCAPE

In the past, this problem was solved by…

Currently competitors provide SMSF loan rates and information, but none qualify client lending and commence an online application. My SMSF Lending is unique.

Its predecessors/competitors include…

Current practice is to go online and compare lenders, and contact the online broker for more information. The broker organises a meeting with the client and then proceeds to capture information and complete a loan application which takes longer to complete.

5. TARGET MARKET

It is made for…

SMSF members/trustees and residential property purchases who are time-poor, who want to make an informed decision to acquire a service and want to be assessed for lending and then submit a loan application in the shortest time frame.

It is available for sale through…

This service is available through our website, www.mysmsfproperty.com.au/full-rebate-smsf-lending. The client goes to our website and completes the process.

Our marketing strategy is to…

Our marketing strategy is to target SMSF trustees who are aged between 30-55 years and to provide a turnkey service for SMSF lending by marketing online, via print and referral partners to grow our business.

Your Turn — VOTE!

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We’ll use your vote to create the 2014 SMART 100 Readers’ Choice Index.

FINE PRINT
This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.

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