Why choose a reverse mortgage?
Security, comfort, choice. These are the defining attributes of a good retirement. If you are a homeowner aged 60 plus, a reverse mortgage from Household Capital could support your long-term wellbeing.
What is a reverse mortgage?
Designed for homeowners aged 60 plus, a reverse mortgage allows you to convert a portion of your home’s equity into cash without having to sell your home.
This is achieved via a loan facility that doesn’t require repayment until you vacate the property and comes with a number of protections, including guaranteed occupancy – meaning you can live in your own home for as long as you want.
Your home equity can be drawn as a regular income stream, a lump sum or a combination of the two.
Why consider a reverse mortgage?
Retirement should mean comfort, not frugality. Unfortunately, superannuation and the Age Pension often fail to stretch far enough to meet the current and future needs of many Australians.
Whether you need an additional income stream, money to fix a leaky roof or a contingency fund for life's unexpected expenses, a reverse mortgage can help you meet your needs.
A reverse mortgage can help you to:
- Improve your retirement lifestyle
- Enjoy greater financial independence
- Age in your own home and community
- Take control of your own retirement
- Look forward with confidence
Key features
If you’re over 60, a reverse mortgage from Household Capital allows you to unlock the wealth in your home to support your long-term financial needs. It comes with a range of features and benefits that include:
- Access your home equity without needing to downsize
- No regular repayments required
- Retain 100% ownership of your home
- Guaranteed lifetime occupancy
- Tax free income that doesn’t impact pension entitlements