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Peace of mind with a reverse mortgage – Loan Scenario of the Week

Lesley (aged 74) and David (aged 79) live in their unencumbered apartment. Recently they have had 2 large body corporate levies for building repairs and are expecting to have another one. David has also had a hip replacement. They have faced large and unexpected costs. They do not receive a pension as they have valuable […]

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Loan Scenario of the Week (29/09/2023)

Peter (aged 77) lives in his unencumbered home in the NSW Riverina. Peter is a widow and he has no children.   Peter has realized he is slowly reducing his savings by around $200.00 per week.  He is looking to do a Reverse Mortgage to receive $250 per week to top up his income to meet […]

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Loan Scenario of the Week (22/09/2023)

Eric (aged 77) and Donna (aged 76) have lived in their property on Sydney’s North Shore for 43 years. They wish to continue living there for as long as possible. Eric plays golf several times a week. They have a very active social life. They wish this to continue.   They have a Reverse Mortgage […]

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https://reversemortgagesydney.com.au/wp-content/uploads/2022/03/Sydney_web_logo.png 0 0 bronwynritchie https://reversemortgagesydney.com.au/wp-content/uploads/2022/03/Sydney_web_logo.png bronwynritchie2023-09-22 00:48:052023-09-21 18:51:39Loan Scenario of the Week (22/09/2023)

Loan Scenario of the Week (15/09/2023)

Joan (aged 66) lives in her unencumbered home in Wollongong. She is a widow and lives alone.   She was retrenched and has been unable to find new work due to her age and so is currently relying on the jobseeker payments for her income. She will qualify for the full aged pension in January […]

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https://reversemortgagesydney.com.au/wp-content/uploads/2022/03/Sydney_web_logo.png 0 0 bronwynritchie https://reversemortgagesydney.com.au/wp-content/uploads/2022/03/Sydney_web_logo.png bronwynritchie2023-09-15 00:55:072023-09-04 15:56:58Loan Scenario of the Week (15/09/2023)

Loan Scenario of the Week (01/09/2023)

Alfred (Aged 82) has lived in his home in the lower North Shore for his entire life   Alfred was a highly successful doctor and is used to a very good lifestyle. He has no children and will be survived by his nieces & nephews. The property is valuable in a wonderful location and can […]

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https://reversemortgagesydney.com.au/wp-content/uploads/2022/03/Sydney_web_logo.png 0 0 bronwynritchie https://reversemortgagesydney.com.au/wp-content/uploads/2022/03/Sydney_web_logo.png bronwynritchie2023-09-01 00:45:492023-08-30 11:48:14Loan Scenario of the Week (01/09/2023)

Loan Scenario of the Week (25/08/2023)

Alan (aged 69) and Wendy (aged 65) live in their unencumbered home in Sydney’s Northern Beaches. They also own a holiday home on the South Coast.   Wendy is still working as a consultant. However, for the past 6 months she has been sick which has reduced their income considerably.   Alan is retired and […]

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https://reversemortgagesydney.com.au/wp-content/uploads/2022/03/Sydney_web_logo.png 0 0 bronwynritchie https://reversemortgagesydney.com.au/wp-content/uploads/2022/03/Sydney_web_logo.png bronwynritchie2023-08-30 11:42:312023-08-30 11:42:31Loan Scenario of the Week (25/08/2023)

Loan Scenario of the Week (21/07/2023)

Amelia (Aged 75) lives alone in her home in Coffs Harbor. She relies on the Centrelink Aged Pension and a UK Pension for her income. She originally got her Reverse Mortgage to repay a mortgage and credit cards that had built up over time, allowing her to free up her cash flow and enjoy a better […]

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https://reversemortgagesydney.com.au/wp-content/uploads/2022/03/Sydney_web_logo.png 0 0 Nicholas Taylor https://reversemortgagesydney.com.au/wp-content/uploads/2022/03/Sydney_web_logo.png Nicholas Taylor2023-07-21 17:26:592023-09-03 16:52:12Loan Scenario of the Week (21/07/2023)

Client Story – Pat and John

Couple living in a regional property (mid north coast of NSW) valued at $390,000 aged 66 and 68, reliant on Centrelink aged pension for their income.

Clients borrowed initial funds for health costs. They both had amalgam fillings replaced.

Just before the loan settled their almost 30 years old car was written off when a truck hit them at slow speed.

Read their story here

Some of our FAQs

Do I still retain the ownership of my home?

Yes, your name remains on title, like any other traditional mortgage. The lender is simply registered as having an interest like your conventional mortgage loan.

What is the acceptable age of the youngest borrower?

60 years, however, some lenders require the youngest borrower to be 70 years of age.

Are the borrowers protected under the National Consumer Credit Protection Act?

Yes, the law has been amended to include senior’s equity release loans under the National Consumer Credit Protection Act.

Read more at our main FAQs page

About

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Information

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More than a decade’s experience consulting with senior Australians and Self-Funded Retirees regarding specialist credit products designed to support retirees.

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