Seniors Loans

Reverse Mortgages

Welcome to finance for seniors - helping seniors make an informed choice!

Are you asset-rich and cash-poor? Are you just looking for a little extra to maintain a comfortable lifestyle or are you thinking of alternative forms of investments.

In the past the choice was to either downsize your home, sell part of your home to family or third party or borrow from relatives. Well now there is another option called a reverse mortgage commonly referred to as a senior's equity loan or lifetime loan.

If you're over 65 a reverse mortgage may be the answer, the reverse mortgage is a home loan that lets a homeowner convert the equity in their home or investment property into cash. Different lenders have different requirements but generally the equity can be used in a number of ways to pay for what you need or want.

Options include

• Lump sum payments
• Stream of payments
• Line of Credit
• Combination of the above three options

Unlike a traditional home equity loan or second mortgage, with a reverse mortgage repayment is not a requirement. There is no set loan term, the loan ends when the property is vacated.

The maximum loan amount is based on the value of the property offered as security and the youngest borrower's age

A reverse mortgage may solve this problem, cash can be provided immediately, and can be used for almost any purchase giving you that extra cash for everyday living.

But first it's important that you explore suitability of a reverse mortgage. Call our office and speak to a SEQUAL accredited consultant to get the FACTS you need to know before proceeding!

Call John Rees on 02 6583 8344

SEQUAL Accredited Reverse Mortgage Consultant