“Household Capital has given me the chance to realise a small portion of the equity in my home and it's been a win-win situation for me” – Chris, 67, Queensland
A successful businessman originally from South Africa, Chris, 67 migrated to Australia to give his kids a better life and create a quality retirement lifestyle for himself. However, an unexpected challenge in the form of the Covid-19 pandemic arose, which impacted his investment income. Chris needed to find a new way to generate retirement income.
Chris accessed his home equity – what we like to call his Household CapitalTM – through our Household Loan. He was able to improve his long-term retirement funding by establishing a contingency fund from which he can draw income, as required, to boost his quality of life.
“ I went to Household Capital, and they've been fantastic. It's basically given me a way to release some of my equity,” Chris says. “ It makes a lot of sense, you're cashing out a small part of your equity with minimum risk, instead of having a mortgage that in 2 or 3, 4, 5 years' time, that you're not gonna be able to service and the bank's going to repossess. ”
Chris used a Household Loan to unlock a portion of his home equity and today, he gets to live his retirement with confidence and peace of mind knowing his Household CapitalTM will meet his income and capital requirements.