FOR THE MORE MATURE FAMILY MEMBERS, A REVERSE MORTGAGE MAY BE A SOLUTION.

Reverse mortgages are an increasingly popular and practical way for people over 60 to finance their retirement. Essentially, a reverse mortgage is a loan. It allows you to borrow an amount of cash against the agreed value of your home. However, unlike other loans, you have the option to make NO repayments during the life of the loan.  The loan is repaid when customers move permanently out of their home, move into an aged care facility or pass away.

Reverse mortgage product are highly flexible, designed to provide people aged over 60 with the financial opportunity to live their lives the way they want.  It provides customers with the opportunity to use the equity built up in their homes over the years to do a whole range of things – home renovation, a better car, taking a holiday or improving overall day-to-day living.

The major benefit of Reverse Mortgage products:

• Repayments are optional - allowing customers to utilise their property equity to an agreed limit and agreed terms.
• Access to tax free funds - more disposable income
• No pension ramifications, if appropriately structured
• Ability to protect and extend the life of other income streams or investments.
• Customers draw what they need, when they need it.
• Bringing forward inheritances – assisting children with finances now rather than later.

Reverse Mortgage has some key criteria that you need to fulfill:

• You must be aged 60 or over. There is no maximum age limit. It does not matter if you are a pensioner, self-funded retiree or if you continue to work
• You must own the property. You may be the sole owner or share ownership with your spouse (there are some exceptions for trusts or companies)

Call our friendly staff

Our friendly staff  are here to discuss your private financial circumstances in confidence. Call WhiteStar on 1300 667 837 or contact us.