Reverse Mortgage QLD
Before the rise of equity release products, there were limited options for Australian seniors for funding their retirement. If you didn’t have enough savings or pension, you would end up selling your family home to afford aged care and have a comfortable lifestyle. You could have all of this at the expense of losing your family home. It was often an emotional process for seniors back then.
This has prompted financial institutions to offer equity release products like reverse mortgages. Reverse mortgage QLD allows you to access the equity of your home, without having to leave your home or losing its ownership. You also don’t need to make any repayment until you move to aged care, sell the house, or die. You can have the loan as a lump sum, a regular income stream, line of credit, or combination of these options.
People use reverse mortgage QLD for additional income, home improvements, debt payments, new vehicle, or even for travel. Reverse mortgage QLD offers opportunities for senior Australians that never existed before. And although the interest compounds over time, the No Negative Equity Guarantee or NNEG protects you from owing more than the value of your home. This means you can stay in your home for as long as you want without worrying that you will end up in debt.
Peter Bolitho, our trusted QLD reverse mortgage broker, had his first reverse mortgage loan back in 1995. Having experienced it himself, he wants to return the favour and help fellow Australians live their retirements to the fullest with the help of QLD reverse mortgage. Peter holds a Certificate IV Financial Services (Mortgage Broking) and has served the two big banks—Building Society and Mutual Bank. He has more than two decades of experience in finance and he specialises in reverse mortgage products in QLD by having his own brokerage firm since 1998.