What can you do with a reverse mortgage?
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Travel
You’ve worked hard throughout your life. Now that you’re in retirement, it’s time to relax. Whether you’re been dreaming of caravanning across Australia, a trip to see your grandkids, or an oversees bucket list adventure, there’s nothing holding you back. Except money.
Finding the spare cash for a holiday can be difficult, particularly when there are other priorities, such as everyday bills, home repairs, or medical expenses.
Faced with making a choice, many Australian retirees simply miss out on travelling during retirement.
Travel with a reverse mortgage
Release your home equity with our reverse mortgage to fund your next holiday.
Interest is only charged on the balance outstanding. No repayments are required, although voluntary repayments can be made any time to reduce the amount you owe. The loan is repaid from the future sale of the property.
Benefits of using a reverse mortgage for travel
Flexible payment options
Draw an initial amount to fund your travel. You can also apply for a regular advance, with the option to apply for a cash reserve in the future.
No regular repayments
There’s no need to make regular repayments until the end of the loan, however you’re free to do so.
Peace of mind
Have peace of mind knowing that you remain the owner of your home with our lifetime occupancy guarantee.
A case study of James
Property in Newcastle valued at $400,000. Age 81 years old...
Fred’s reverse mortgage enabled him to complete the home improvements he was hoping for, so he was able to live in his home comfortably, for longer, enjoying the renovation he had been planning.
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