| Reverse Mortgages >
What is a Reverse Mortgage?
A Reverse Mortgage is a secure form of lending for the over 60’s. This product enables you to borrow against your property without making any repayments for the life of the loan.
With equity in your home but little cash in the bank this is one way of overcoming the problems of being asset rich but cash poor in retirement.
Please call us to have an obligation free chat or to send out some information on how this product may suit your requirements.
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LOOKING TO GET MORE OUT OF LIFE AFTER 60? |
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DO YOU WANT:
CASH LUMP SUM AMOUNT
REGULAR INCOME STREAM
DEBT CONSOLIDATION
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AFE CAN HELP YOU LIVE YOUR RETIREMENT DREAMS BY SHOWING YOU HOW TO TAKE CONTROL OF YOUR FINANCES BY USING YOUR HOME TO FUND YOUR RETIREMENT. |
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No repayments are required during your lifetime |
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SCENARIO #1 |
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Henry, an 87 year old pensioner, lives alone and receives a veterans pension. Unfortunately it's not enough to cover his regular expenses, which has resulted in mounting debts. Henry, concerned about his increasing debt, decided to speak to a Centrelink officer about the impact that a reverse mortgage could have on his pension. The Centrelink FIS officer assured Henry that consolidating his debts by tapping into the equity in his home which was valued at $475,000 would not impact on his pension.
Having sought advice from his local broker, they decided that the a Reverse Equity Loan from AFE was the best solution for him. This provided Henry with the flexibility he was looking for all with a fixed rate of interest for the life of the loan. Henry used 25% of the loan for debt consolidation and 75% was used to supplement Henry's monthly income stream over a 5 year period through instalments, increasing his monthly income to $2,670 per month.
All possible with thanks to AFE and Reverse Equity Loans. |
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