(26/04/2024)
Reverse Mortgages NSW: Loan Scenario of the Week
Grant (73) lives in his home at in the Illawarra. He has lived here for 26 years. Grant lives off the aged pension as his only income. Grant wishes to do a reverse mortgage as he wants to buy a caravan and new ute. This will allow Grant to travel around Australia and prospect for gold which is something he has always dreamed of doing.
He would then like a cash reserve to cover one off expenses and for some travel expenses if needed. Grant has a personal loan that he used to put solar on the roof. He will clear this with the mortgage, furthering freeing up the cashflow from his pension.
Grant has no children to leave his estate to and so he is not worried about leaving an inheritance. If needed the house could be sold to pay for aged care. This loan will allow Grant to achieve a lifelong dream, and really enjoy his retirement.
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. This post does not constitute advice.)
Reverse Mortgages NSW: Loan Scenario of the Week (19/04/2024)
Reverse Mortgages NSW: Loan Scenario of the Week (03/05/2024)
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