What is it?

A senior Reverse Mortgage allows people over the age of 60 that own their own home to tap into the equity that they have built up in their property to spend on whatever they need the money for, thus the term reverse mortgage.

This type of loan gives seniors the freedom to create cash flow without having to sell or downsize the property. The best part of this arrangement is that you can still remain living in your home while generating an income from it.

During the loan term no repayments are required, interest charges and fees are paid to the lender once the property is sold, or the owner permanently moves out (such as to go into a long term aged care) or until the borrower is deceased.

You will also never owe more than the value of your home on this loan type termed “No Negative Equity Guarantee”

Having this available cash flow allows you to have a more enjoyable lifestyle, perhaps buying that new car, or going for that long overdue holiday.

For more information, call our friendly staff today on 1300 85 45 75.

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