As we age, our focus naturally shifts from taking part in the hectic, high-paced rat race that is today’s typical journey through life. With great achievements in the past, it becomes time to turn to the future and to start considering your retirement, later years, and options for your comfort. Perhaps you are already a senior living on a fixed income and facing increasing financial strain, or maybe you’re trying to make sound financial plans to fund care for yourself in the future. In either scenario, finding the funds for what you want (or need) can be difficult — and you’re not exactly looking to get back to the old grind by finding a new job! What are your options?
If you own your home, a reverse mortgage in Queensland could be the ideal choice for you. Think about all the equity you’ve built up in your home, and how it is locked away. You may not want to sell the home outright to downsize and move, but that doesn’t mean that this equity is out of your reach. With reverse mortgages in QLD, you can tap into that equity for a possibly substantial amount, providing you with the funds necessary to accomplish what you’d like.
However, don’t commit to this choice right away; it is a big decision, and requires cautious pre-planning and analysis. At Reverse Mortgage Finance Solutions, we can help you with this. Let’s start by considering a few of the key things to analyse, and how we can help.
Understanding your Reverse Mortgage Options in QLD
First, if you receive a pension, a reverse mortgage could have an impact on how much funding you receive from a Centrelink pension plan. It is important to consider how your reverse mortgage funds may impact your pension. At RFMS, we can examine the details of your situation show you how to minimise or completely eliminate any impact of your pension entitlement.
Second, All reverse Mortgage loans have a Nil Negative Equity Guarantee. This means that borrowers will never owe more on the loan than the home itself is worth. During our in-person consultation with you, we will explain this and other aspects of the process, to ensure you have a clear understanding of reverse mortgages.
Finally, many older homeowners have begun to wonder about using this process to fund aged care accommodation fees. This can be an excellent idea, with up to 50% of your home’s value accessible. However, it is not the right choice for everyone. Before making a commitment, speak with RFMS to ensure you fully understand your decision.
Reach out For Prompt, Professional Help Today
To help facilitate your journey through these considerations, we’ve prepared a comprehensive guide that covers everything, including all the pros and cons, so you can begin to decide whether this is the right pathway for you — then let us aid you. Be well advised with help from RMFS today. To arrange for a face-to-face, informative conversation that focuses on how your life could change in QLD with a reverse mortgage, please contact us now to send a message, or phone your local advisor, Peter Bolitho on 0412 078 785.