Frequently Asked Questions
There is a lot to consider when applying, so please see below some of our Frequently Asked Questions to assist you in deciding whether an ASAG Equity Release is the right option for you.
Many of Australia’s elderly population have their home as the primary source of their wealth. An ASAG Equity Release is designed to give you access to this wealth and enable you to live the retirement you deserve without selling or moving on from your home.
Settlement is only required when you permanently move from your home. This is only if you choose to sell your property, move into aged-care or if you pass away. You are free to make voluntary regular or one-off payments, although this is not a mandatory requirement.
Yes. You remain the owner of your home and continue to live in it for as long as you wish. In doing so, you will be the one to benefit from any increase in property value.
If you already have an existing mortgage on your home, we can help you refinance this debt with an ASAG Equity Release. Doing so will secure your occupancy of your home as well as eliminate your current monthly mortgage repayments from your retirement income.
Your ASAG Equity Release will be calculated based on your age, the location of your property as well as the value of your home. It can be designed so that you only access what you need, when you need it. If you would like to receive an obligation free estimate, you can use our equity calculator.
An ASAG Equity Release allows you access to part of the equity in your home. This can be used in a number of different ways. Many of which assist people achieve their financial dreams as well as have a much more comfortable, stress-free retirement. Many people will use the equity for home improvements, paying off debt, holidays as well as paying for medical treatment.
Your pension payment is an important source of income. Before you proceed with an ASAG Equity Release you should talk to an independent financial professional for advice and understanding on this product and any impacts on existing or future pension entitlements.
Consulting a legal professional for advice to ensure you understand your rights and obligations around an ASAG Equity Release is important and required. It is also recommended that you discuss your requirements and objectives with your family as well as a financial advisor before you continue to confirm that it is right for you.
Once you have completed an initial application, ASAG will arrange for a registered valuer to visit your home at a date and time that it suitable for you to assess its value.
With an ASAG Equity Release, Australian seniors have a valuable tool at their disposal that can be utilised in their retirement planning. Many of our features can assist seniors that are looking to supplement their retirement income and free up cashflow. Benefits include:
- A better quality of retirement lifestyle via access to funds from your home capital.
- You remain the owner of your home and any future increase in its value
- Living comfortably and confidently now and into the future
- A highly regulated facility that is government regulated
- Access to lifetime occupancy, no negative equity guarantee and no requirement to make loan repayments until the end of the loan.
- Avoiding the costs and disruption associated with property downsizing as an alternative to accessing your existing home capital.