Resimac experienced a record month in July for new SMSF applications, with an increase of 150% over the previous month. This is on the back of continued growth within this sector.
The group’s COO, Allan Savins, says Resimac has seen ‘strong growth’ month on month since launching their SMSF product in December last year.
“These results support our decision to enter this sector of the market and back-up recent reports that SMSF lending will only continue to grow. The Resimac sales team has undergone extensive training in SMSF lending and have been out in the field working closely with brokers to educate them on not only how to write and assess these loans but, more importantly, how to identify SMSF opportunities.”
Savins adds that the ‘immediate’ results are encouraging, as property continues to be on the top three asset classes for SMSFs.
“Our distribution partners have embraced the product and are working closely with us to grow market share in this sector.”