loansearcher.com.au  is a free service - which removes the confusion that a choice of over 400 lenders and 4000 products brings.

Our team of accredited and qualified brokers who will not charge you any fees, are  here to help you make the right product choice, from a range of Equity Releaseloan options with flexible features and competitive interest rates.  We also pride ourselves on our willingness to answer your questions and providing great customer service.

If you are ready to have a broker help you achieve your goals – please fill in the details in our short Enquiry Form.

The current crop of senior Australians are expecting to be faced with a savings shortfall as they enter their retirement years.  The issue has become an increasing focus of many in society, including the Government, seniors organisations, seniors themselves and their families. There is much debate in the community as to how best to manage the issue. 

There are a number of options available to seniors, their families and professional advisers to consider. These may include -

• selling the home and downsizing
• borrowing from the family
• adjusting ones lifestyle to reduce daily expenses;
• returning to the workforce;
• releasing some equity from the sale of a portion of the property
• releasing some of the equity in the home or investment property via an equity release mortgage.

Some of the typical uses of the funds raised from an Equity Release option include:

• Treating yourself with a holiday or travel, or car purchase
• Home maintenance or improvements
• Long-term care or major medical expenses
• Supplementing your income
• Debt consolidation
• Supporting the kids or grand kids.

The most common Equity Release option available to Seniors in Australia is a Reverse Mortgage.  A Reverse Mortgage is usually structured as a loan secured with a first mortgage on your property, but unlike a traditional mortgage, no repayments are due until all Borrowers permanently vacate the property. This will usually be when all Borrowers have passed away, moved into long term aged care, or the property has been sold, at which point the Lender will seek repayment of the funds owing.

Funds released via the loan can be taken as a single lump sum, a series of instalments or drawn down under a “line of credit” facility.   The options available will vary with each Lender. Whilst Lenders will accept voluntary repayments, no regular repayments are required.

Because there are no repayments due whilst the Borrowers are living in the property, interest and fees are added to the loan balance during this period. This is often referred to as the “capitalisation” or compounding of interest and fees to the loan balance.

When the loan and all interest and fees are due for repayment, the Borrowers or their estate will typically have the option of repaying the loan out in full and retaining the property, or selling the property and repaying the Lender from the proceeds of the sale.

Important considerations:

• When considering this product, see it for what it is and do your sums.
• It is recommended to only use those lenders that are members of SEQUEL.
• You can choose products that ensure there is no “negative equity”.
• You need to speak to Centre Link to gauge the impact on your circumstances.
• You are advised to obtain independent Legal and Financial advice.
• Discuss your options with family members prior to applying, to avoid confrontation or confusion at a later time.  Recent surveys show most family members will support your move to financial improvement and independence.

More information:

Once you have completed our Enquiry Form, one of our experienced consultants will be able to discuss your circumstances with you. 

As we provide a Broker Service, we have a large panel of lenders to recommend and no allegiance to any one of them.  We monitor the offerings from all the lenders constantly. 

When it comes to choosing the lender that’s right for you – we provide you with several options to choose from.  Usually it is the three best lenders of the week, with their interest rates, fees and charges and application fees.

We also provide you with computer projections and print outs.  Our aim is to make it as easy for you as possible. 

For all your questions, contact a Consultant on   Freecall 1800 080 129