Reverse mortgage before
By
Charliemac.
- Replies 0
The Government has a reverse mortgage scheme.
It is available only if you are over pension age and own property.These are the only requirements.
The terms and interest rates are set by the government
Currently interst rate is 3.95% It is available in a lump sum each year or a fortnightly amount.
It is not repaid until you both leave the property ,either through your estate or if you sell the property whilst you are alive.
Full details are available on the Centrelink Website Home Equity Access Scheme ( HEAS )
Applications are made through Centrelink.
The amount of loan available depends on the age of both parties and the proportion of the property you wish to Mortgage.
Doug McQualter
It is available only if you are over pension age and own property.These are the only requirements.
The terms and interest rates are set by the government
Currently interst rate is 3.95% It is available in a lump sum each year or a fortnightly amount.
It is not repaid until you both leave the property ,either through your estate or if you sell the property whilst you are alive.
Full details are available on the Centrelink Website Home Equity Access Scheme ( HEAS )
Applications are made through Centrelink.
The amount of loan available depends on the age of both parties and the proportion of the property you wish to Mortgage.
Doug McQualter
