Reverse Mortgage

Ageing Population
Australia has an ageing population, with the proportion of the population over 55 expected to increase by as much as 50% + in the next 5—10 years.

Limited Desirable Alternatives
Currently, those that retire based on current levels of superannuation savings have few, if any, choices if they find their savings are not enough. Generally, these choices are:

Supplement with the age pension (in full or partially);
Downsize their home (and potentially moving away from family and community)
Borrow from family and friends
Acceptance of a lower income level in retirement

Wealth tied up in the Home
For a majority of Australians, the family home is their most significant asset. It does not however deliver capital or an income stream to support retirement living. In some cases, pensioners cannot afford to maintain or update their property to retain it’s capital worth.

A reverse mortgage is an alternative solution to Australians over 60 years of age to tap into the equity of their home. Cases where we have arranged reverse mortgages:-
Clients wanting to split their block to sell one for future cash.
Clients wanting regular monthly income supplement.
Clients needing further funds to finish their home they just built.
Clients needing funds to renovate and update their home.