There is always
A RANGE OF CHOICES
Choosing the best reverse mortgage for you
Most people who contact us are not aware of the range of Reverse Mortgage loans that are available.
Reverse Mortgages can relate to the type or size of the property, the location of the property, and purpose of the funds.
We work with a number of reverse mortgage lenders, some of whom do not have restrictions based on location and/or the size of type of property HOWEVER the security property MUST be a residential property.
Other factors that people come to us for are –
Price. Most lenders have ‘establishment fees’ around $995.00 HOWEVER establishment fees can be as high as $2500.
Paul will provide you with cost comparisons between lenders who offer a suitable loan
Interest rate. Current interest rates vary by as much as 1%.
Paul will provide you with interest rate comparisons between lenders who offer you a suitable loan.
Features of Loans. Not all loans have the same features.
Some lenders will allow you to keep funds in reserve via a ‘line of credit’ facility whilst others either do not offer this option or only offer it on a review basis.
Some lenders will allow you to access funds via regular fortnightly or monthly instalments.
Paul will discuss these various options with you and build your loan with the options YOU need.
Paul will listen and find you the most suitable solution.
HELP so you can choose the RIGHT lender
Any discussion will cover all aspects of a reverse mortgage home loan –
PLUS a broader and holistic advice experience, including conversations about
your future needs, age pension considerations,
in-home care, residential care,
Wills, Enduring Power of Attorney
and any other specific circumstances.
Paul will discuss the following key points and ‘built-in’ protections with you–
- How much you can borrow (it varies between lenders).
- How to ‘structure’ your loan to best suit your requirements.
- How to minimise the interest on your loan.
- Lifetime term protection for surviving spouse
- When does the loan become repayable? – No regular repayments are required.
- Repayments can be made at any time, without penalty.
- Nil Negative Equity Guarantee that loan repayment will not exceed value of security property.
- A full estimate of all fees and charges associated with the loan
- The need for Independent Legal Advice from a solicitor of your choice.
Hi again Paul, all good, the $10.000 is in my bank and this is a relief for us. I can now get on with my life, thanks to you my friend. Much appreciated and I will recommend you to friends. … DL, Torquay
“we chose to work with you Paul, due to your extreme knowledge of later life needs” … M&S, Carnegie
“Thank you Paul for reviewing our age pension payments – our information at Centrelink was wrong and we now have $3500 more per year” … M&G, Hartwell
Mum needed some help as she had run out of funds. Thanks to Paul, she will have now receive an age pension of $17,000 a year, up from zero, and have enough monies to carry on her lifestyle. I am relieved that she now has a clear plan going forward. … LB Yarraville
Our close friend of 30 years needed some help with her finances. We were referred to Paul by two very well-known finance specialists. He spent 3 hours discussing and advising on our friend’s current and future scenarios, and set a reverse mortgage plan in place. In addition, he recommended our friend used the solicitor meeting to do her Will and Enduring Powers of Attorney and apply for a Home Care Package. Thanks to Paul, our friend is now prepared for the future and it was so easy. … B&M
Across three decades we have helped thousands of Australian seniors with a full range of reverse mortgage products; helping them find the best reverse mortgage to finance their personal retirement and later life needs.
Get in touch now…
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Understand Reverse Mortgage Solutions
Choose the best structure and Lender
The process: Application to Settlement
Carnegie, Victoria
More than two decades’ experience consulting with senior Australians and Self-Funded Retirees regarding specialist credit products designed to support retirees.
