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Loan Scenario of the Week: Michelle and Anthony
Michelle and her husband had a very successful business on the North Shore that was adversely affected by Anthony’s dementia, and then Covid-19. She had to close the business as it could not be sold.
Recent blog posts
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Reverse Mortgage and Age Pension Entitlements
Many older Australians value their age pension payments. For the majority of recipients, the use of a reverse mortgage will have no effect on current entitlements. Each age pension recipient is assessed on both their assets and income to determine their pension payment.... -
Reverse Mortgages and Gifting
The Bank of Mum and Dad has become a major source of funding for younger home-owners, either wanting to get into home ownership, or having financial assistance in meeting increased home loan repayments. When Mum and Dad reach retirement age, often their home becomes their greatest asset and Reverse Mortgage borrowing... -
Reverse Mortgages NSW: Loan Scenario of the Week (07/07/2023)
Janette (aged 83) lives in her home in Sydneys Inner West. Her husband died several years ago, and she only has one son, Patrick. Janette has around $200,000.00 in savings and shares. She relied on the pension for her income and receives a small amount of interest and dividends from her investments.... -
Reverse Mortgage: Preserving your families wealth
Reverse Mortgages often have a reputation for eating up a family’s equity and diminishing your child’s inheritance. This is a concern for clients when taking out a Reverse Mortgage, however, we have found in the current Australian property market when used responsibly, the opposite is true.... -
Reverse Mortgages NSW: Loan Scenario of the Week (14/07/2023)
Sophia lives in her unencumbered home in Sydney’s South. Sophia has lived in her home since the early 1970’s. She does not want to leave. She is living on the pension but wants a Reverse Mortgage to allow her to achieve some things that will be impossible on the pension.... -
Reverse Mortgage NSW: Loan Scenario of the Week (21/07/2023)
Amelia (Aged 75) lives alone in her home in Coffs Harbor. She relies on the Centrelink Aged Pension and a UK Pension for her income. She originally got her Reverse Mortgage to repay a mortgage and credit cards that had built up over time, allowing her to free up her cash flow...