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Brief: Liberty tweaks SMSF loan terms

Phil Coffey, the deputy CEO of Westpac will retire from the bank at the end of May. Westpac will axe the role of deputy CEO The Australian reports Specialty lender Liberty has increased the LVR for owner-occupier and investor loans on commercial property from 70 per cent to 75 per cent as it pushes into the niche self-managed super fund sector. The lender has also increased the loan term from 15 years to 30 years. Other changes include the acceptance of a Certificate of Financial Advice from brokers as part of any SMSF SuperCredit application, simplifying the documentation required for a loan.

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