Asset Rich and Income Poor?
How to Provide an Income in Retirement

Here's how to do the things you want to do by using the money locked in your home.

Equity Release Mortgages, also known as Reverse Annuity Mortgages allow borrowers over 60 without an income stream to access the equity in their home. Uses for such mortgages include home improvements, holidays, medical operations, upgrade vehicles, or to assist with family needs, perhaps first home deposits, educational expenses or even weddings.

There are no monthly payments and the mortgages are repaid by the sale of the mortgaged asset at the option of, or on the death of the borrower.  Like any loan, the loan and accrued interest compounds over time.

There are a number of issues to consider: the most important is inheritance. If you have one of these mortgages there will be a reduction in the size of your estate.

These types of mortgages are most suited to those who are asset rich, really only have national superannuation and want to do more things in life.

For further information or to request an application pack, please email us at Click here to email us or contact a LYFORDS adviser to discuss whether this would be suitable for you.