Meet Pam

Pam has lived in Adelaide since she was 17 – first moving there to attend teachers college. It’s still her favourite place in the world! Pam and her husband had planned early for retirement, however their plans were flipped. First, it was the Global Financial Crisis that negatively impacted their investments, and again sadly, when a family member became ill.

Like an increasing number of retirees, the couple had an existing mortgage and didn’t want to have to worry about mortgage repayments each month in retirement. Pam and her husband were also committed to supporting their ill family member, limiting their ability to work more. They discussed their options with their bank, and, despite the bank being unable to help, it suggested they consider a reverse mortgage because they had considerable equity in their home.

After simply Googling “reverse mortgages”, Pam quickly narrowed her search to Household Capital after some thorough research. She spoke to a retirement specialist, compared interest rates between lenders and in her words freed themselves of those regular repayments. Consequently, Pam and her husband applied for a Household Loan, which enabled them to refinance their existing mortgage and free themselves of those regular repayments.