If there’s one thing that 2020 has taught us, it’s that life does not always go to plan. Although it’s presented its challenges, 2020 has also reminded us of the importance of a place called home.
Australians prefer to stay in their own home throughout retirement – and why not? Your family home has been the centre of your life for years; it has witnessed events and milestones, and many memories are stored within its walls. And most retirees are looking forward to many more good years at home. Recent events have also seen our homes become our refuge.
It’s also been a time of financial hardship for some retirees, many of whom have been unable to access government support. That’s why we’ve released our $20k Top Up, quick access to a $20,000 Household Loan.
Our Household Loan is an innovative type of reverse mortgage that allows you to access a portion of your home equity – what we call your Household Capital – to improve your retirement funding and meet your lifestyle needs.
$20k Top Up
Our $20k Top Up gives you flexible access to your Household Capital. You might use it to pay your rates or body corporate fees, for general living expenses or to help kids or grandkids who have lost jobs in the pandemic. You might choose to put it aside for those unexpected expenses.
Please note: your home must be valued at $400,000 or more for this particular offer.
The $20k Top Up has been designed to provide accelerated access to your Household Capital. If eligible, your $20,000 payment could be made within two weeks (online applications only).
Regular interest repayments are not required. However, you have the flexibility to pay back your loan at any time without financial penalty.
All the usual consumer protections apply:
- You retain 100% ownership of your home
- You cannot default or be removed from your home
- The ‘no negative equity guarantee’ applies