The Age Pension is an important source of income for many retired Australians. We can work with you to understand how a reverse mortgage can be used to preserve your pension entitlements and always recommend you speak to Centrelink to ensure your entitlements aren’t affected.
If you are using your home equity to top up your super or other investments, you are required to obtain financial advice. This will help you determine how best to deploy your home equity to ensure improved long-term retirement funding. A financial adviser can also help structure your financial affairs to maximise your entitlements to the Age Pension.
What is a Reverse Mortgage loan? A Reverse Mortgage loan is our innovative approach to borrowing against home equity for responsible, long-term retirement funding. It is a type of reverse mortgage that allows you to borrow money using the equity in your home as collateral. Interest is charged like any other loan, but you don’t need to make regular repayments while you live in your home.
The loan must be repaid in full when you sell or leave your home or, in most cases, if you move into residential aged care.
To find out more about reverse mortgages, including a reverse mortgage calculator to help you work out how much equity you may have in the future, visit the Australian Securities and Investments Commission’s free consumer website at www.moneysmart.gov.au.
Yes. Refinancing can help you secure a better rate, reduce repayments or unlock equity for renovations or investments. We’ll compare your options and guide you through the process to see if it’s the right move for you.