What is Reverse Mortgage?

Home > Financial Focus

Quite simply a reverse mortgage allows you
to tap into the equity you have in your home
without the need to sell the property. The money
you access can be used for any purpose.
It is a lifetime loan, which means that you do not
need to make any repayments while you are still
living in the home. The interest and expenses
will add to the loan and compound over time.
The loan must generally be repaid when your
home is sold or you (and your spouse) move to
long term aged care facility or you pass away.
Interest and any applicable fees would be
included in the outstanding balance of the loan.
Most providers of reverse mortgages will offer
you the option to take the loan proceeds as a
lump sum, as a series of regular payments (like
an income stream) or a combination of the two.

Testimonials

"Self-employed people often earn a decent income while working. However, without the benefit of employer-paid superannuation contributions often have little money to live on in retirement. Don’t rely on selling..."

Don’t neglect retirement savings
See More Testimonials

Meet the Team at Momentum

David Gourley

Director / Financial Planner
Team Profiles

Newbrocom Pty Ltd (ABN 39 152 026 330) trading as Momentum Financial Planning is an authorised representative of Charter Financial Planning Limited, Australian Financial Services Licensee Licence number 234665.

 

DISCLAIMER | PRIVACY POLICY | FINANCIAL SERVICES GUIDE
TERMS & CONDITIONS

Momentum Financial Planning is one of a select number of businesses that has been awarded Certified Quality Advice Practice status by Charter Financial Planning. This programme sets an industry benchmark for providing high-quality financial advice. The certification is awarded based on industry qualifications, demonstrated best practise business operations and proven success in meeting the financial planning needs of clients.

© Momentum Financial Planning 2010 - 2019 All Rights Reserved :: Website by Giant Media :: ADMIN