Keep up with the latest news and updates
May 10, 2018
Australian seniors with full age pension entitlements can now access the government-funded Pension Loans Scheme at a max of $17,800 annually as part of the key changes introduced in the 2018 Federal Budget. The Australian Government has been offering the Pension Loans Scheme through the Centrelink as a voluntary reverse equity mortgage for older Australians
February 15, 2018
Many Australian seniors still believe in the myth that the bank will take over the property if they put it under reverse mortgage. This is a pure misconception as the borrower will remain the full legal owner of the property, and the lender will only take the mortgage. It is crucial to really understand how
January 22, 2018
Reverse mortgages are loans for pensioners and retirees that are designed specifically for older borrowers who are typically ‘asset rich’ but ‘cash poor’. Known variously as ‘senior’s loans’, ‘reverse home loans’, and ‘senior’s finance’, reverse mortgages are the most popular form of home equity release in Australia. This financial product will allow people from the
December 20, 2017
Research from global wealth and retirement consultant Mercer shows that more than 60% of retirees face a looming crisis of running out of money before they die. Most Australian seniors only have enough savings to last 14 years beyond retirement and may outlive their savings by five years. So if you don’t have enough savings
November 9, 2017
By the time you retire and decide to stop working, your income will be greatly affected as well as your lifestyle. You will lose your regular income stream from your salary, and you have to rely on age pension, or if you have managed to invest early on, you can access your superannuation funds. But
September 19, 2017
If you are born in or after 1966, you are a candidate for the new pension eligibility requirement that will take effect in 2035. By that time, you need to be 70 years old and above in order to be eligible for age pension. If you don’t have access to additional source of income, that
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