The Australian Financial Review ( AFR) confirms in their article by Duncan Hughes 2 days ago that Macquarie Bank will no longer lend to SMSF's for residential property. Lending by Macquarie Banking Group to SMSF's for residential property will end on the 30th April 2019.
The AFR quotes a confidential memo from Macquarie to mortgage brokers which states that: " We are streamlining our core Macquarie loan offering."
The article goes onto say that " Several lenders are reviewing mortgage offerings in response to rising funding costs, falling demand, growing negative equity and rising risk from weakening residential markets."
The full article can be viewed at:https://www.copyright link/business/banking-and-finance/macquarie-axes-bank-of-mum-and-dad-and-smsf-property-investment-loans-20190319-h1cjn0
Macquarie Bank abandons SMSF Property Loans - article "New Daily" Yesterday, page-11
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