LRBAs – what the banks really think

Editorial director of Switzer
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It has been six years now since SMSFs were able to borrow to invest in assets and as a result, it is becoming much more common place. It is still a complex process to go through to secure a loan, but more borrowers now understand this, according to one major player in the market.

Speaking at the SMSF Professional Association of Australia’s (SPAA) technical conference, head of SMSF trustee distribution, Westpac Group, Sinclair Taylor, estimated that the size of the loan market in SMSFs was between $6 and $7 billion, of which Westpac Group has funded $2 billion worth of loans.

“We hold a reasonable chunk of that because we’ve been in the market since day one,” he said.

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