Reverse Home Loans
Reverse Home Loans are available for people 60 years and over against the equity in their home, holiday home or investment property Australia wide.
They are available for any purpose and do not require any repayments for the life of the loan. Basically this type of loan does not have to be repaid until you choose to sell your home or the last surviving borrower passes away.
The title of the home will stay in your name and you can receive your money in a variety of ways to suit your situation. Below are some of the advantages and disadvantages of this product -
Talk to your trusted financial expert for more information about this product and seek independent legal advice prior to making any decision on this type of loan.