Reverse Mortgage Lenders NSW: Loan Scenario of the Week
Lesley (aged 74) and David (aged 79) live in their unencumbered apartment.
Recently they have had 2 large body corporate levies for building repairs and are expecting to have another one. David has also had a hip replacement. They have faced large and unexpected costs.
They do not receive a pension as they have valuable artwork and collectables as investments. They are now starting to sell the artwork and collectables to avoid running out of funds.
The large and unexpected costs have rapidly depleted their cash savings. They still have around $20,000 in funds in the bank. They want to do a Reverse Mortgage to finish replacing the floor coverings in the apartment and then to update the old bathrooms.
Then they want funds to maintain their lifestyle and pay bills in future. They have assets but these need to be sold so the funds from the Reverse Mortgage are to supplement and smooth their income if required.
This loan has provided Lesley and David huge peace of mind and allowed them to continue living there comfortable lifestyle for the foreseeable future.
If you would like to know more about how a Reverse Mortgage can help you achieve your lifestyle aspirations please call Raymond on 0438 184 784 or Nicholas on 0438 184 785.
(Names, locations, amounts, & other personal details have been changed to protect the client’s identity.)
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