Getting solutions right for you!
Mortgage Broker Equity Loans and Reverse Mortgages
Retired and living on a shoe string? Let your dreams flower by accessing the equity in your home without endangering your security of tenure for your life time or your spouses through a reverse mortgage.
As a mortgage broker we can assist you in selecting the right equity loan or reverse mortgage to suit your needs.
Having a vision to make the change by getting either a lump sum loan or a regular monthly income can make a big difference to your life. This is where reverse mortgage allows you enjoy the benefits of borrowing against your home without having to make regular repayments and not have to diminish your pension and most importantly you retain title to your home.
If you are over 60 then the amount you can borrow is limited by a % of the value of your home. An equity living loan is low cost solution with no monthly fees or charges and probably the lowest interest rates among the SEQUAL (Senior Equity Release Association of Lenders).
What happens to increases in the value of property?
Although you have made a withdrawal of equity from your property, as time goes by the value of your property will likely increase, and your equity will also increase in the property.
What happens if you want to sell your property?
When the sale is completed the outstanding amount of the loan is repaid and you keep the balance.
When do you have to repay the loan?
The equity living loan becomes repayable when you sell your home or permanently move out or on the death of the last surviving borrower.
We are SEQUAL Accredited and MFAA qualified in Equity Release Plans.
PRIVACY ACT 1988 Due to privacy considerations any information you provide to Sydney Mortgage Plus Pty Ltd will only be used by this company to select suitable mortgage products for you, the information will be not provided to other parties without your written permission.
Mortgage Broker providing low doc home loan, refinance home loan, new home loans, construction home loan, vacant land loan, first home owners grant, bridging finance for homes, car loans, commercial low doc loans, no doc commercial loans, business loan