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Home  Loans for Self Employed
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Retirement should be a time of financial freedom – a time when seniors should be enjoying the fruits of their labour and doing the things they really want – go travelling, give the kids an early inheritance, upgrade the car or pay down existing debt. You may even require funds to help you pay for your accommodation bond! A Reverse Mortgage is the most common and a highly practical way of having access to funds, by releasing a portion of the equity in your home, without having to move out or sell it. If you are over 60 years of age and own your own home, you may be eligible for a Reverse Mortgage. With you retaining full ownership of your property and no repayments required during the lifetime of the loan, they’re a very attractive option. A guide to help explain reverse mortgages is available for those who are interested in considering whether one might be suitable for them. It is a FREE, comprehensive 32 page booklet and has been designed to help seniors identify options when considering an equity release or reverse mortgage solution. While produced by Bluestone Equity Release, “A Practical Guide to Reverse Mortgages in Australia” offers completely independent and practical information in a concise and easy to read format. Some interesting facts;80% of Australians aged over 60 have insufficient funds in retirement (Source: “Home Equity, Retirement Incomes and Family Relationships” report produced by the Department of Family and Community Services in 2005), and an average of 10-15% of those have outstanding debt. (Source: as previously quoted, plus findings from researching Bluestone Equity Release’s customers from 2004-2006
- The Australian Housing and Research Institute recently surveyed approx 7000 older Australians. Of those aged over 60, 25% expect to have used up all of their retirement funds before they passed away. A higher proportion of those under 60, 33%, expect the same.
 Mortgage Mates Consultant, Craig Butt, is a Reverse Mortgage specialist in Canberra and surrounding regions. He has successfully completed the Understanding Equity Release Plans/Introduction to Reverse Mortgages course held by the MIAA, currently the highest level of training for Reverse Mortgages and the only SEQUAL recognised course in Australia. He is accredited with all the major Reverse Mortgage Lenders and can happily help you weigh up the various options available when considering whether a reverse mortgage may be appropriate for you. If you would like a copy of “A Practical Guide to Reverse Mortgages in Australia” please do not hesitate to call Craig on 1300 799 123. |
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Membership No. 406491
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an endoresment by COSL of the Member, its products, services, or financial position.
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Important News
Little Johnny was being questioned by the teacher during an arithmetic lesson. 'If you had ten dollars,' said the teacher, 'and I asked you for a loan of eight dollars, how much would you have left?'
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