Reverse Mortgage in Victoria

How Does a Reverse Mortgage in Victoria (VIC) Work?

As Australians are living longer, the number of retirees within our population is expected to more than double over the coming years. With this extended life, there is a national conversation around the pillars available for retirement funding. The latest being the conversation around equity release, in particular, reverse mortgage.

Senior Victorians Utilising the Reverse Mortgage Retirement Tool

The home for many Australian seniors is the greatest asset within their portfolio alongside savings, superannuation, and access to government pension. The trouble isn’t accumulating wealth, but simply how to unlock it.

With both individual and state recognition on this, there is a growing popularity amongst Australian seniors in Victoria to utilise a reverse mortgage for their retirement. A reverse mortgage is designed to give homeowners aged 60 or older access to some equity of their home’s value. Borrowers via reverse mortgage products are granted government protections by regulation to ensure their protection, such as:

• No negative equity guarantee;
• You remain the title holder (and as such benefit from any increases to the property);
• Lifetime occupancy

Further benefits include no regular mortgage payments are required. Instead, reverse mortgages become payable when the borrower is no longer living at home.

A.S.A.G. Reverse Mortgage in Victoria

At ASAG, we assist seniors who are looking to release some of their locked away property wealth for many reasons. Some of our customers have insufficient savings and income to fulfill their desired retirement lifestyle. Others just simply want to improve their life in retirement through equity release products such as the A.S.A.G. Reverse Mortgage.

A.S.A.G. Reverse Mortgage in Victoria is a versatile solution and can be tailored to any financial needs. There are different ways to receive the proceeds, such as a lump sum, line of credit, regular payments, or any combination of all.

Borrowers can use their proceeds to fund their Home Care (In-Home Support), Travel and Holidays, or other expenses in retirement.

For further details, download our free Product Guide, call us on 1300 002 724, or send an email at info@asagfirst.com.au to see how you could improve your retirement income through A.S.A.G. Reverse Mortgage in Victoria.