A.S.A.G. Retired Seniors Loans
A.S.A.G. Retired Seniors Loans
Who qualifies for the A.S.A.G. Retired Seniors Loans?
Who qualifies for A.S.A.G. Retired Seniors Loans
- You must be at least 60 years old.
- You must be a homeowner in Australia.
All applications will be subject to additional responsible lending assessment before receiving an outcome.
Types of Retired Seniors Loans
Reverse Mortgage
A reverse mortgage enables people over 60 years old to take out a loan based on the appraised equity value of their property. The loan can be gradually paid any time as long as you still remain in the property, or to be settled in full with interest upon selling the property.
Equity Release
Access your home’s equity with an A.S.A.G. Equity Release with no required regular repayments while you retain ownership of your home.
Home Equity Access Scheme
Formerly the Pension Loans Scheme, the Home Equity Access Scheme (HEAS) allows seniors to apply for a non-taxable loan from Services Australia and the Department of Veterans Affairs. The amount will be furnished to you via fortnight payments, a lump sum, or arranging both into a combination.
How the A.S.A.G. Retired Seniors Loans Work
A.S.A.G. provides clients with easy and effective equity release solutions to access funds for their retirement.
Educate and assess
A.S.A.G. is available for your assistance. Use the data and tools accessible on our website to find out if this loan is right for you.
Apply
Complete our quick and easy application process.
Get a valuation
Have your property valued to determine the maximum equity accessible to you.
Obtain independent legal advice
Have your solicitors explain the proposed agreement, documentation needed, and your obligations.
Consult the family
Taking out A.S.A.G. Retired Seniors Loans is an important decision. So, we encourage discussion with family before finalising your loan.
Receive cash
If you’re approved for the loan, you can use the funds for any purpose you see fit in your retirement.
What Drawdown Option does A.S.A.G. Retired Seniors Loans offer?
As no two situations are alike, the A.S.A.G. Retired Seniors Loans can be drawn down in any form to meet your financial requirements.
Lump Sum
Has your property’s worth grown over the years? Access the maximum amount of funds for huge expenditures.
Regular Instalments
Add to your income stream by receiving fixed monthly payments — as long as you live in the home or the selected number of years to receive payments.
Cash Reserve (Line of Credit)
Securing a reverse mortgage for a line of credit is to access fresh funding based on pre-approved credit limits. Use the cash reserve as a safety net for when unexpected expenses happen.
Contact our A.S.A.G. home equity loan specialist so we can walk you through your options and help you to determine which is right for you.
Frequently Asked Questions
The key reverse mortgage qualifications and requirements for the A.S.A.G. Retired Seniors Loans include:
- An Australian citizen aged 60 and over at the time of the application
- Owner of a home you currently reside in. The property itself should be fully paid off any existing mortgage.
The property must be reassessed for the value and to account for any mortgages that might detract from the final equity you can leverage for the loan.
You will need to provide proof of employment and capacity to work during the duration of the loan.
Your application should include proof of certain sources of passive income to show your ability to repay the loan, such as investments and Centrelink payments.
Applying for a retired seniors loan while still out of Age Pension coverage may cause some complications on your future eligibility. Please discuss the matter with your financial advisor and your loved ones before you ever file a loan application.
You can fully settle the loan when you no longer live in the property. Until then, you can make gradual payments any time.
Terms and conditions apply, and you are required to meet your responsibilities under the contract.
For more details, download our free Product Guide, or call us on 1300 002 724 to see how using A.S.A.G. Reverse Mortgage could improve your retirement income so you can Live The Life You’ve Earned.
What People Say About Us
I have been absolutely thrilled with not just the professional service offered by ASAG but also by their kindness and understanding. Compared to two other major Reverse Mortgage companies who between them took 13 months to decline my application due to me living in a resort I have found Gavin Luka at ASAG extraordinary in his patience with any amount of questions which were answered so promptly and in full. A very happy life ahead.
Kathy on Trustpilot
22 Mar 2022
We are very happy to “highly recommend” Gavin Luka for providing his thoughtful, empathetic, personable yet professional service during the acquisition of loan process. Gavin’s ability to ‘make it happen’ in a calm, seamless manner at a very stressful time for us – meant a lot.
Thankyou Gavin, what a ‘star’. Blessings to you
ASAG are very fortunate to have you on their team. Well done.
Carol Fleming on Trustpilot
9 Mar 2022
This was a very pleasant experience
This was a very pleasant experience. Plenty of guidance given along the way. Some anxiety but now looking back nothing to be concerned about. Thank you Gavin and his team.
Sandra Phillips on Trustpilot
7 Mar 2022
dealing with paul and gavin extremely easy
dealing with paul and gavin was extremely easy and also very pleasureable. if taking out a reverse mortgage i would reccomend asag to anyone.
Bob Manskie Manskie on Trustpilot
7 Mar 2022
I have used this company very recently and especially Gavin.He was so helpful in every way and talked me through everything that I needed to do.He was so polite , understanding and gentle with this gal as I was sick at the time but he just explained it all step by step and made the whole procedure as painless as possible though it wasn’t as easy a procedure as I’d hoped.They always answered the phone promptly and if Gavin wasn’t immediately available he’d always ring back very promptly.I can assure you this company is so easy to deal with.
Heather on Trustpilot
7 Mar 2022
*DISCLAIMER: Interest is based on a loan of $150,000 with a term of 25 years. Interest is calculated daily and charged monthly.
Please note the comparison rate only applies to the examples given. Different loan amounts and terms will result in different comparison rates. Costs such as redraw fees and costs savings, such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.