Michelle (aged 65) lives in her home in the Northern Beaches. Her husband Anthony (aged 71) lives in an Aged Care centre specialising in the care of people with alzheimer’s and dementia. He has been in Aged Care for over 5 years after developing early onset dementia. Michelle is Anthony’s Power of Attorney. Michelle and […]
Thomas (aged 84) and his wife Florence (aged 85) live in their unencumbered home in the Sydney Hills District. Thomas has just fully retired and closed his business which he had been operating part time. Florence recently had a fall and Thomas has also found it difficult to come inside and up the stairs from […]
Lyndall (74) lives with her husband George (80) in the house in the Blue Mountains. George has dementia, and Lyndall has signed on his behalf as a Power of Attorney. This loan is to pay off several debts that have built up over time. This is because the costs of living and the extra […]
Sophia lives in her unencumbered home in Sydney’s South. Sophia has lived in her home since the early 1970’s. She does not want to leave. She is living on the pension but wants a Reverse Mortgage to allow her to achieve some things that will be impossible on the pension. She wants to put […]
Reverse Mortgages often have a reputation for eating up a family’s equity and diminishing your child’s inheritance. This is a concern for clients when taking out a Reverse Mortgage, however, we have found in the current Australian property market when used responsibly, the opposite is true. We recently heard from a client in the Northern […]
Janette (aged 83) lives in her home in Sydneys Inner West. Her husband died several years ago, and she only has one son, Patrick. Janette has around $200,000.00 in savings and shares. She relied on the pension for her income and receives a small amount of interest and dividends from her investments. Janette has […]
Article By Paul Dwyer The Bank of Mum and Dad has become a major source of funding for younger home-owners, either wanting to get into home ownership, or having financial assistance in meeting increased home loan repayments. When Mum and Dad reach retirement age, often their home becomes their greatest asset and Reverse Mortgage borrowing […]
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