Brian and Maureen were 71 and 68 years of age when they contacted us. They were self-funded independent retirees, who had been living comfortably for the past 7 years on their retirement investments. The effects of the Covid 19 crisis had reduced their interest and dividend income by just on 50% and they were concerned about being able to maintain their life-style. Brian did not want to sell assets in the depressed market environment.
For Brian and Maureen
Paul arranged a Reverse Mortgage loan that provided regular monthly instalments to ‘replace’ the reduced interest and dividend incomes they had become used to. Their income had been reduced by $3500 per month. Their reverse mortgage loan provided this shortall for the next 3 years together with a $50,00 line of credit for any unforeseen circumstances.We explained that they would be able to suspend these instalment payments when their interest and dividend income returned to their previous levels.This allowed them to maintain their lifestyle, without sacrificing any assets!DOWNLOAD OUR PRACTICAL GUIDE TO REVERSE MORTGAGES IN AUSTRALIA
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More than two decades’ experience consulting with senior Australians and Self-Funded Retirees regarding specialist credit products designed to support retirees.
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