How to Use the Equity In Your HomeEquity release mortgages, sometimes called Reverse Annuity Mortgages, are designed to help homeowners aged over 60 maintain your standard of living and quality of life by releasing some of the equity out of your home.
You may be living in a home worth hundreds of thousands of dollars. By accessing some of these funds without having to move, you have the financial freedom to do some home repairs, updating to a safer and more reliable car, or for something special like traveling to see your grandchildren.
- The amount you can borrow is based on your age and value of home
- Minimum loan amounts can vary depending on your eligible entitlement.
- Important to note you still own your own home – not the lender, therefore you will benefit from any capital growth over the years
- No repayments to worry about – loan and accumulated interest repaid when you move permanently from your home – usually when you pass away, or move into long term care
We are aware that this isn’t a decision that is made easily and we are happy to meet with you and your family members to discuss it further.