Reverse mortgages have changed in the last decade, with consumer protection now at the forefront. There’s no risk of losing home ownership or going into negative equity, plus you’ll have equity remaining to fund the later stage of retirement or leave as a bequest.
Our independent finance experts Noel Whittaker, veteran finance guru and author of ‘Making Money Made Simple’, Dr Deborah Ralston, co-author of the 2020 Retirement Income Review, and retirement specialist Fiona Navarro answer the most important questions on this topic.
HOUSEHOLD CAPITAL INFO Important information. Applications for credit are subject to eligibility and lending criteria. Fees and charges are payable, and terms and conditions apply (available upon request). Household Capital Pty Limited is a credit representative (512757) of Mortgage Direct Pty Limited ACN 075 721 434, Australian Credit Licence 391876. HOUSEHOLD CAPITAL™, the Star Device and Household Capital and the Star Device are trademarks of Household Capital Pty Ltd.
IMPORTANT LEGAL INFO This article is of a general nature and FYI only, because it doesn’t take into account your financial or legal situation, objectives or needs. That means it’s not financial product or legal advice and shouldn’t be relied upon as if it is. Before making a financial or legal decision, you should work out if the info is appropriate for your situation and get independent, licensed financial services or legal advice.
Your home equity could be the key that unlocks a world of opportunity in retirement. Whether you want more income or a lump sum to renovate your home or replace the car, you can try our home equity calculator to see how much better off you could be in retirement. You can even prequalify for a Household Loan.