Reverse Mortgages

Reverse Mortgages have been designed for mainly for people who are 60 years old and over.

• So are you over 60 Years old?
• Is your retirement income No longer meeting your living expenses?
• Are you considering selling your home to increase your retirement income?
• How about another opinion?
• FLR Solutions, we may be able to assist you and help you!

With the increase of the ageing population in Australia, Our Government is putting more and more responsibility on the elderly individual to fund their own retirement. Many elderly baby boomers, and retired people are finding out, the have a superannuation and other income sources, such as the old age pension, simply is not enough money to support the lifestyle that they're been accustomed too! Many of these baby boomers, and elder people are faced with the option of the possibility of selling their family home

This is why a Reverse Mortgage may possibly be the better option here for you to consider

• Reverse mortgages is an option designed for residential property owners aged over 60 years old
• It allows you to release funds using the equity in your home,
• These funds can then be used by yourself to maintain your lifestyle, pay necessary large bills, fund a better income stream for yourself, or even for your personal lifestyle needs, for instance like home improvements, help out schooling fees of your grandchildren, travel, etc , etc.
• You do not have to pay any interest on the Reverse Mortgage, as a month payment, like more other traditional mortgages.
• In a Reverse Mortgage, the interest is capitalised, which simply means it's added to the amount of the loan, whilst you live in your home, and you can live there as long as you like or chose.
• When your home is eventually sold, you or your estate will pay back the amount of the loan (i.e. the cash you received) plus the interest owning.
• Also remember and keep in mind that your home, would have increased in value over the years so this also would make a Reverse Mortgage, an option to consider!

As you can image that there are a numerous range and options available to suit your individual needs and requirements. This is where the knowledge and experience of your FLR Solutions Finance Broker can be invaluable.

We at FLR Solutions have the knowledge and experience to review your individual situation, and work with you to explain the best options for you, as well as all the advantages and risks associated with each option, ensure that you always get the full benefits from the loan which you have decided upon.