USF sources a range of Reverse Mortgage or "Equity Release" products that are ideal for “asset rich, cash poor” elderly homeowners.
They can then free some of the value in their home without having to sell it.
Several benefits of this loan type include:
- Funds can be used for any worthwhile purpose
- Both Standard and Fixed Rates available to your client
- Regular repayments are not required
- All proceeds after the sale of your property and the repayment of the Loan go to you or your estate
- You do not need regular income to apply
- You retain full ownership of the property until it is sold and retain all the benefits of any growth in the value of the property
- An Inheritance Protection Option allows your client to choose to protect a portion of the property’s future value. That way, you have a guaranteed portion of the sale proceeds set aside for you or your beneficiaries no matter what the final loan balance
- ‘No Negative Equity Pledge’ means that provided the Terms and Conditions of the loan have been met, your client will never owe more than the value of the property
- Interest, fees and charges are payable on sale or transfer of the property or after the property passes to the estate of the last surviving borrower.
If you would like to discuss this product further or want more information, please contact USF on 1300 66 99 86 or info@usf.com.au
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