Reverse Mortgages

A reverse mortgage or Equity access will help you achieve and improve those important lifestyle changes. The extra money can be even used to help a relative buy a home.

What is a reverse mortgage?

A reverse mortgage allows seniors to access the equity trapped in their homes. In their simplest form, reverse mortgages provide a lump sum or regular payment of money to a homeowner with the lender registering a mortgage against the home. Repayments during the life of the loan can usually be made however, given the nature of the loan, they are uncommon. Generally, the outstanding principle and interest, together known as the outstanding debt, is repaid at the earlier of the house being sold, transferred or passed to the estate of the last surviving borrower.

I have more questions...

A reverse mortgage has a number of differeing elements to look at before making the right decision if this is the option for you. We recommend you contact us and speak to our qualified Reverse Mortgage consultant about your personal situation and at least that way if you have questions we can answer them for you then and there.