07 Mar, 2019
A new debt product that facilitates funding needs for financial advisers’ retiree clients has launched.
A Household Loan, backed by specialist retirement funding provider Household Capital, enables retirees to draw equity from the family home to fund living expenses.
Chief executive Joshua Funder said the loan combines a retiree’s home equity, superannuation and Age Pension to provide adequate, reliable, lifelong retirement funding while the retiree continues to live at home.
The loan can be used to top up superannuation or investment accounts, home renovations, fund health and aged-care costs and support family members with first home deposits and education expenses.