Reverse Mortgage / Equity Release Loan
Seniors Finance Australia – a Reverse Mortgage or Seniors Home Equity Release Loan is a “lifetime loan” for people 60 years and over on the Title of the property , against the equity in your home, holiday home or investment property Australia wide.
It is your “reverse mortgage” or “lifetime loan” that allows you to borrow against the equity or asset value in your property for any purpose that you wish. These loans are know as Reverse Mortgages or Seniors Equity Loans.
It does not require any repayments on the life of the loan but you can make voluntary repayments if you wish to do this.
This seniors loan does not have to be repaid until you choose to sell your home or the last surviving borrower passes away.
Reverse Mortgage and Title of your home ? – the Title of your home will stay in your name.
You can receive your money in a variety of ways – as a Lump Sum or have your own “cash reserve” limit or a re-draw facility and you can then draw down as you need the money, this is sometimes called a “Line of Credit” , or a combination of your options to suit your situation. It is your choice. Please ask about these options in a Reverse Mortgage.
If you have a current mortgage or loan on the property this maybe able to be paid out for you. You can use your money anyway you wish – additional income to enjoy yourself, home repairs, health care, holidays, to help your family, to buy a new car or pay out existing debts, mortgage, loans or credit cards – your choice.
The amount you receive will depend on the value on your property and the age of the youngest borrower.
If you feel that this “lifetime loan” – reverse mortgage loan could suit you or assist you with a better retirement life style please fill out your details below and information will be sent to you – if you require further information please call 1300 881 807 or contact us.