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 2024.
Due to the low income, she has been reducing her savings. Whilst no bills are in arrears, she knows that if she does not do anything soon, she will run out of money.
Joan is looking to do a Reverse Mortgage to assist with her living costs until next year when she starts receiving the Aged Pension.
Once she starts receiving the aged pension, she will need less funds from the Reverse Mortgage and then she would like a credit line for unexpected one off costs or discretionary spending. This loan has provided Joan with an immense amount of relief and financial certainty.
If you would like to know more about how a Reverse Mortgage can help you achieve your lifestyle aspirations please call Raymond on 0438 184 784 or Nicholas on 0438 184 785.
(Names, locations, amounts, & other personal details have been changed to protect the client’s identity.)