As we enter retirement, financial stability becomes even more crucial to maintain the lifestyle we desire. Many Australian seniors find themselves wondering how to meet the rising costs of living without exhausting their savings or making difficult decisions, such as selling their homes. The good news is that your home can work for you without you ever having to leave it.
In our FREE ebook download, we’ll explore three effective ways to tap into your home’s value: Lump Sum Payments, Supplementing Your Income through regular instalments, and Cash Reserves.
Equity release is a broad term used to generally refer to a product that allows a home or property owner to release some of their equity. There are two primary types of products that allow customers to do this. One being a Reverse Mortgage, the other being a Home Reversion.
Home Reversions are designed to allow seniors access to debt-free funding for their retirement. It can also be an alternative to borrowing against your home’s value. You agree to sell a part of your house or a percentage of its future sale proceeds to trade for money, with no capitalising interest as one of its benefits. You remain as the homeowner and live in it with no obligation to sell until you choose to.
The total amount you can access 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.
Reverse mortgages are well regulated by the National Consumer Credit Protection Act 2009; these protections apply to our ASAG Reverse Mortgage as well as other equity release products.