About

Vernons
Solicitors

Established by Raoul Vernon in 1983 and still owned and operated by Raoul Vernon, we practice exclusively in mortgages and finance – with over 25,000 mortgages successfully completed by us.

Raoul Vernon holds an ASIC Australian Credit licence. No 385071 to take, make and advise on mortgage loans and submit loan applications to lenders.

Vernons Solicitors Pty. Ltd. holds fully unrestricted Professional Indemnity Insurance not limited by the Limitation of Liability Scheme.

We innovated, developed and established the original Lite Doc loans concept together with LaTrobe Financial in 1991 now widely known as Low Doc Loans.

We established the concept of mobile lending managers in 1985 and are still attending to clients at their premises.

Acting for LaTrobe Financial for 35 years in preparing mortgage documents and settlement of mortgage loans.

FREQUENTLY ASKED QUESTIONS

About SMSF Lending

Any residential investment property and any income-producing commercial property, including rural properties.

No. Only if it was income-producing rural land.

Developments – no. Construction -no, but this does not preclude “off the plan” purchases so long as a completed dwelling is settled upon. Two-part land and construction contracts are not acceptable for this style of loan as the land is settled on and then ‘improved’ which is a breach of the SIS Act.

No, however business real property that is held outside your SMSF can be purchased by your SMSF using a SMSF loan.

Yes, as long as the original loan met the requirements of the SIS Act. You cannot leverage any equity as part of a refinance; however you can borrow to refinance an existing loan amount plus costs of the refinance.

Max LVR:

80%

Rate (from):

5.6% Residential
6.99% Commercial
IO Fixed or VAR

Term:

30 years

Serviceability:

Full Doc or Low Doc.
Regulated or non-Regulated.

Max Loan:

Negotiable

Purpose:

Purchase of an asset –
Residential 80% LVR,
Commercial 70% LVR.
Limited recourse to the property asset only.
No Construction.
No subdivision.
Income producing rural land is acceptable.
Refinance existing SMSF loans