Do You Have Retirees Looking To Access Home Equity?

March 22, 2019

Many Australian retirees are in need of additional retirement funding and require flexible access to their home equity.  Recently, however, major lenders in Australia have withdrawn from traditional reverse mortgage lending. We are very pleased to advise that we can now provide you access to a new provider, Household Capital, who is approaching this market differently.

We’ve established an exclusive agreement for our referral partners to gain access to a solution that offers access to home equity at the lowest available rate in Australia. Household Capital will not be providing access to this product via mortgage broking channels in Australia and have selected Nexus Partners due to our strong relationship across more than 1500 professional advisers.

A Household Loan can be made available to retirees to enhance retirement funding for specific purposes being:

  1. Retirement income – top up income for clients on pension or with minimal super.
  2. Home Renovation – clients can renovate to ensure the ongoing suitability of the family home throughout retirement to improve lifestyle and wellbeing.
  3. Aged care – clients can use home equity to fund in-home care or a transition to an aged care facility, including the funding of Refundable Accommodation Deposits.
  4. Funding intergenerational transfer – clients can give to their loved ones when they need it most; for example, when buying their first home or for educational expenses.

Quick Facts:

  • Eligible individuals aged 60+ and couples aged 65+ who own and live in their home
  • Available in most metropolitan and coastal areas
  • Loan range $50,000 to $550,000 – drawn down over 12 months
  • Interest rate 5.9% per annum (Comparison Rate 5.96%*) – variable rate
  • No break cost or termination fees, repay anytime
  • Lifetime occupancy guarantee and No Negative Equity Guarantee

Speak directly with your Nexus Partners BDM for further information.

*The comparison rate is based on a loan of $150,000 secured for a term of 25 years. Interest is calculated daily and accrued monthly. Please note that the comparison rate only applies to the example given. Different loan amounts and terms will result in different comparison rates.