Can you assist your children with their home loan?
All about gifting
The number of Australian households who are struggling to refinance due to serviceability issues has surged from 15% to 30% in just less than six months, according to Compare Club.
New data from the personal finance marketplace and advice company also showed a skyrocketing number of refinancing enquiries from mortgage holders with an LVR of 90%, which makes refinancing tough, if not impossible, and to a level not seen since interest rates began to rise.
Broker News 23rd August 2023
Are you in a position to assist your family when their home loan repayments are escalating and they cannot get a better interest rate?
Do you want to make sure they can retain their home without financial stress or “forced sale”?
Have you considered a reverse mortgage payment as a gift?
An amount of $800 per month for 2 years should not affect any age pension entitlements.
Speak with Paul to learn more about reverse mortgages and gifting and how your personal situation may assist your family.
Many of our clients have expressed concern at the Centrelink rules applicable to Gifting to family members.
Whilst the rules regarding the amounts that can be gifted are explicit, the effect of gifting on pension entitlements is not always as clear.
Clients often have received incorrect advice from Centrelink, effectively restricting the amount they can gift.
Paul has been able to assist many clients to gift larger amounts, without any negative effect on their pension entitlements.
Talk to Paul to establish how much you can gift – It will often be more that you thought!
The Difference? – You are talking to an Expert – Not a Call Centre!
Understand Reverse Mortgage Solutions
Carnegie, Victoria 
