Using an ASAG Equity Release could be a sensible solution for senior homeowners. Learn here how accessing some of your home’s value can make all the difference to your situation.
It doesn’t matter how much we try to plan and prepare for what’s to come, we cannot always predict and be ready for each possible event. This is never more glaring when we are faced with more than one unexpected emergency or crisis all at once.
Whether you are still working, semi-retired, or already in retirement, this can be more difficult to deal with in your later years when you are dealing with limited income, savings, and resources.
Illness in the family is something that can affect almost everyone sometime in their lives and especially those who are older. Although, having this knowledge does not make it any easier to deal with.
Even if you have all the proper medical insurances ready and in place, there are the usual service gaps and other hidden costs. This may include modifications in your home and expensive health equipment that are required to home care such as walking aids, wheelchairs, and mobility scooters. It may also happen that a higher level of care or even full-time care is now needed.
What if you are already faced with huge ongoing medical expenses and are suddenly dealing with another unforeseen turn of events that affect your wellbeing and finances?
Let’s look at the case of Sydney builder, Jack, who’s at the age of 72 and still continues to work and run his own successful business.
An unfortunate halt to a building project together with the associated flow of revenue was the straw that almost broke the camel’s back, according to Jack. All these along with a continuing drain on finances due to a family medical condition.
An access to equity from the private residence ensured the continuity of operation of his business. He was very fortunate that ASAG was able to help and be of such timely assistance in securing some equity from Jack’s home to keep them going during a difficult time.
The ASAG team made it very easy for Jack to withstand the ordeal at the time. He’s very impressed by ASAG’s professional and friendly approach to doing business.
Using home equity through an ASAG Equity Release could be a sensible solution for aged 60 and over in managing some unforeseen costs or drains in cash flow. In this case, the continuous cost of a high level of care that was partly being funded through a loan from ASAG.
Given that you own or mostly own your own house, accessing some of it’s value can make all the difference to your situation. It might take the immediate pressure off, solve small cash flow or major problems, and avoid the need to sell the home and move, especially at an already stressful time.
The right advice and planning is always vital when you consider using home equity in this way. You have to fully understand the process and all the outcomes that may come with an ASAG Equity Release.
If you liked our “How Using ASAG Equity Release Can Help Deal With The Unexpected” and found some valuable information, check this space regularly to get more updates on reverse mortgages and equity releases.