Equity Release Mortgage
for Seniors
Would you like to retain your home and live a comfortable life in retirement? A Seniors Equity Release Mortgage, or reverse mortgage, could be the answer.
We're living longer, we're healthier, our standard of living and lifestyle expectations are increasing, but most of us don't have unlimited income.
If you want to enjoy your retirement without selling your home, you can use the equity you've built up to provide an additional income.
What is a Seniors Equity Release Mortgage?
A Seniors Equity Release Mortgage (also known as a reverse mortgage) allows you to access the equity, or value, built up in your home. It acts like a line of credit, money available to "borrow" and use as required.
The interest on the loan is charged monthly but there is no obligation for you to make regular monthly payments! (Of course you can choose to do so).
Many years ago there was some negativity surrounding reverse mortgages but this is no longer the case. Under the No Negative Equity Guarantee introduced in 2012 you will have peace of mind in knowing that:
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You will never owe more than the value of the property.
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You have the right to live in your home for as long as you choose.
Would you like to learn more?
It's important to seek the advice of an industry professional when it comes to a Senior Equity Mortgage. We can talk through all the options available and answer any questions.
Speak with us
You're ready to make some changes and begin to take control of your finances. Congratulations.
If you're not sure where to go to from here, then book a telephone call with Angela Dye at Richmond Residential to learn how we can help you.
