You’ve worked hard your whole life, own your own home and deserve to enjoy your retirement maybe its time to use the equity in your own home.
Your income or government pension makes it impossible for you to enjoy the retirement lifestyle you dreamt of or as you live longer there are choices you would like to make and can’t find the funds to help.
Reverse Mortgages can assist in many areas to provide peace of mind that as you live longer you can afford to do the things you would like and to provide for a comfortable life in retirement.
Reverse mortgages can be obtained by anyone over the age of 60 (youngest applicant), our lenders are all members of SEQUAL – Senior Australians Equity Release Association of Lenders, and provide a “no negative equity” guarantee.
The money can be taken in a lump sum, a monthly income or a combination of the two. The amount you borrow is up to you but is based on a percentage of the value of your property.
Your outstanding balance and the accumulated interest only becomes payable when you sell your home, permanently move out, or on the death of the last surviving borrower.
Give us a call, we will come out to you, spend time explaining the whole process and how easy it can be, at the same time giving you peace of mind about your decision and the full facts.
Client Stories
“Our client had just turned 63, her husband had passed away a couple of years ago and the house desperately needed work on it so she could stay in her beloved home for many years to come. She also wanted to go on a long awaited holiday overseas………….her and her husband had always dreamt of going to Italy and Greece.
The Reverse Mortgage she took, solved all of these problems, she went on holidays and had a fantastic time, the photo’s were great, the fences and retaining walls have been repaired, she is still working part time and has enough money for her every day needs, she knows she can increase her mortgage again if required to assist her through the rest of her life.”
We were contacted by another client who wanted to help her son after a quite nasty divorce settlement. He had been left with no savings and some debt to clear up, at the same time trying to rent and fit out a property so he could have his children (her grandchildren) over to stay. Our client was able to borrow enough money in a lump sum to give her son to move forward with his life. He was so moved by her generosity he is making monthly payments towards the loan in hope of clearing it within 6 years, even though he is the sole beneficiary of her estate.
A retired couple were living off their superannuation fund, they thought when they retired they would have ample money to live on, however with ever increasing costs of living this was beginning to fall short. Their vehicle was also starting to cost extra as it got older, new tyres were need and the maintenance bills were creeping up. To top it all off, the share market was dropping which caused the superannuation fund to drop below it’s original value and now they were drawing from the portfolio. They decide to ask for help and with a Reverse Mortgage they can now draw an income from the mortgage and leave the superannuation alone, allow that to rebuild and the market to adjust.
There are many more stores like these, there are also many other types of scenarios we have heard, we may be able to help you...
Phone us now, we can show you the difference.
(08) 9390 5048
Uses of Reverse Mortgages can be:
- Additional income stream – supplementary to superannuation or government pension
- Renovations – updating aging kitchens, bathroom, remodeling the home for invalid living, up keep on the home ie, painting, gardening
- Life Style Living – new/newer vehicle, caravan or that long awaiting holiday overseas
- Eliminate Debt – pay any outstanding debt, rates, credit cards, even existing home mortgages to other Banks
- Assisting Family members – early inheritance to assist family purchase a home
