understanding equity release - knowledgemaster · the most common type of equity release in...

Understanding Equity ReleaseOtherwise known as reverse mortgages, seniors’ loans, seniors’ mortgages, household loans, home reversion, fractional property transactions.

Your Independent Australian Guide

Contents

What is equity release? 02

Reverse Mortgages 04

Home Reversion 09

Fractional Property Transactions 13

Pension Loans Scheme 18

What’s right for me? 22

About Smooth Retirement 27

Find out more 28

What is equity release?

Home equity is the market value of your home, minus any outstanding debts you may have against it. It is the net value that you have in your home.

Equity release refers to credit, financial and other types of products that allow you to access some of the accrued value (equity) in your home, so you can spend it now – but without selling your home and while you are still living in it.

These products are available in Australia to people aged over 60 years and are specifically designed to provide them with access to funding, at a time when they are unlikely to qualify for other types of loans.

If you have enough equity in your home (i.e. you own it, or mostly own it), you may be able to access a portion of its market value now to improve your retirement lifestyle.

The most common type of equity release in Australia is a reverse mortgage loan. There are also other types of equity release products available, which are outlined in further detail in this guide.

What is equity release?

Pension Loans Scheme Government-assisted scheme

Reverse mortgages a credit product or a loan

Fractional property transactions a financial product

Home reversion a part-sale property contract

Types of equity release

There are several different types of equity release products currently available in Australia and they all work in different ways.

SMOOTH RETIREMENT 03

Reverse Mortgages

A reverse mortgage is a loan designed specifically for people aged 60 and above who own, or mostly own, their homes.

With a reverse mortgage, you are not required to (although you can) make regular repayments, which makes them different from other types of loans.

Your loan is generally repaid from the future sale of your home, usually when downsizing later in retirement or moving into aged care, or when the last surviving borrower passes away.

Benefits of a reverse mortgage

Access to additional funds to improve your quality of life and remain living in your own home are some of the key benefits of a reverse mortgage.

You have the option of drawing the funds as regular instalments, a lump sum or as a cash reserve (similar to a line of credit) or depending on your level of equity and home value, a combination of these.

Reverse mortgage loans are also very flexible:

Reverse Mortgages

You can sell your home at any time – with no exit costs or penalties

You can make part or full payments at any time – though no regular repayments are actually required

If you are receiving funds as regular instalments, you can choose to stop these payments if you decide you don’t want or need them

You can choose to increase them, if your financial position allows you to

You can discharge an existing forward mortgage with a reverse mortgage (with no repayments and no default)


Reverse Mortgages

Compounding interest and equity erosion

While there are benefits, accessing funds from your home via a reverse mortgage will reduce the amount of equity you have in your home over time.

While no regular repayments are required, the fees and interest added to the loan balance compounds over time. This means you pay interest on your interest, plus you will pay interest on any fees and charges added to the loan balance.

Over time, the amount you owe the lender will increase and the longer you have the loan, the more the interest compounds and the bigger the amount you (or your estate) will have to repay.

How is a reverse mortgage repaid?

A reverse mortgage is generally repaid when you sell your home – either to downsize or because you and/or your partner have passed away.

The lender receives the total loan amount (including all accrued interest and charges) with the balance of the sales proceeds going to you or your estate.

Should the total value of the loan be more than the sale price of the house, you (or your estate) are not liable for the difference and the lender has to wear the loss.

An exception to this may be if you were to receive a financial windfall and were able to pay out the loan in full, without the need to sell your home.

You can make repayments to your reverse mortgage at any time, if you choose to, which will reduce the amount of interest you pay.


Reverse Mortgages

Government regulated

Reverse mortgages are tightly regulated by government with inbuilt protections.

This includes the “no negative equity guarantee” (NNEG), which was introduced in 2012.

This means that you are protected by law and cannot owe lenders more than your home is worth, regardless of what happens to the value of the property.

In addition, you retain ownership of your home (i.e. the title remains in the name of the borrower/s). This means you avail yourself to 100% of any growth (and negative growth) in the value of your property, into the future – this is an important difference when compared with other types of equity release products (i.e. part-sale) which we discuss further in this guide.

It also means that you cannot be removed from your home by the lender, nor be forced to sell your home at any time against your will (providing you have met all your obligations under the loan, as

specified in the terms and conditions of the loan contract).

Even if the home devalues dramatically, you can continue to live in it for as long as you choose, repaying the lender only when the house is sold in the future*.

You do have a responsibility to remain living in the home, to ensure the council rates are paid, to keep it insured and to keep the home well maintained.

Available products, rates and charges

There are currently six reverse mortgage products available in Australia (one specific to aged care funding), with interest rates currently varying from 5.15% to 6.20% (noting these rates are variable and can change at any time). Varying individual fees and charges apply.

There are also limitations. Reverse mortgages can be postcode restrictive and not available outside major cities and regional centres. Some loans are also not applicable to apartments and units or bigger properties (i.e. two hectares and over).

*The NNEG doesn’t apply if a default event occurs i.e. fraud or malicious damage to the property.

– Available in cities and most large regional centres

– Postcode restrictions apply outside metro areas

– Available for freestanding, well-maintained homes, including some investment properties and holiday homes

– Some properties (e.g. rural and retirement homes) excluded

– Apartments, units and townhouses not always eligible – depending on location and the lender

Reverse Mortgages*


*Subject to terms, conditions and lending criteria

Reverse Mortgages

CASE STUDY

Frank and Rose would like more incomeRetired small business owners Frank and Rose, both 67, would like a little more each month to make things a bit easier. They are currently drawing $10,000 per year each from their modest super accounts and receiving almost $18,000 per year each in Age Pension.

The couple would like to use some of the equity in their $780,000 Melbourne home to top up their income by $9,000 a year. A reverse mortgage would allow them to achieve this and therefore may be a good solution for Frank and Rose.

$0K

$200K

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$800K

$900K

$1M

$1.1M

$1.2M

$1.3M

$1.4M

$1.5M

54%$772K

20 YEARS

84%$922K

10 YEARS

92%$858K

5 YEARS100%$780KNOW

Income with reverse mortgage drawing $65K indexed

Make their super last 20 years – austere approach $50K indexed

$65K income - indexed. When super runs out, Age Pension - indexed - becomes their only source of income

Inco

me

in $

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$50K

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$1,430K

$1,060K

$913K

$780K

Hou

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LOAN

TOTAL HOUSE VALUE

HOME OWNER OWNED


Home Reversion

Home Reversion

Home reversion products – sometimes called home reversion schemes - allow you to access some of the money tied up in the value of your home, without creating a debt.

This type of equity release is not a loan. It is the part-sale property contract.

Instead of borrowing against the value of your home, you agree to sell a share of the future sale proceeds of your home, in exchange for a lump sum of money now.

This has the advantage of no capitalising interest. You also continue to own a portion of the future sale proceeds of your home and remain living in it (or you can rent it out) based on the terms that are agreed with the provider.

The amount you receive is based on:

You receive the lump sum cash now, and in exchange the product provider receives the agreed percentage of the sale proceeds of your home, when it is sold in the future.

Furthermore, if you sell your home earlier than anticipated, the provider may actually receive less than the agreed percentage of the sale proceeds.

There are some limitations. The home reversion products currently available in Australia can be postcode restrictive and not available outside major cities and certain states.

The size of the portion being sold

The assessed value of the property

The age, gender and number of homeowners


Home Reversion

These products also allow you to:

Access increased funds without the need to sell your home

Rent your home our and retain 100% of the rental income

Remain debt free with no capitalising interest

Buy the sold share back at any time

Access capital (between $25,000 and $1M)*

Live in your home and sell when you choose

Provide a means to pay down debt

Move into aged care without having to sell your home

Remain the legal owner of your home

Benefits of home reversion

Home reversion products have number of benefits, the main one being that you can access some of the wealth in your home without creating a growing debt.

*Subject to eligibility criteria. SMOOTH RETIREMENT 11

Home Reversion

Equity reduction

It makes sense that accessing capital now - by selling a portion of the future sale proceeds of your home - will reduce the amount of equity you hold in the property and/or the amount your estate receives when the home is eventually sold.

Understanding what this will look like now – and more importantly, in the long-term – is extremely important.

It is therefore recommended that you seek professional advice and guidance and it is a requirement that you obtain legal advice before entering into a home reversion contract.

How does the provider receive their share?

The provider is not entitled to receive their share of the sale proceeds until the home is sold.

If you decide to sell earlier than anticipated, the provider will calculate its share of the sale price based on the share you have sold, along with any rebates available to you which means, you actually may receive more than the share you have sold.

Property contract

Home reversion products are property contracts which are covered by government regulations and Australian property law.

The contract is entered into by you and the provider and it is therefore a requirement that you engage independent legal representation.

Independent financial advice is also strongly recommended to ensure no adverse impacts on any entitlements you may have, including Age Pension.


There is only one home reversion provider in Australia and it is currently only available in Sydney and Melbourne. No interest is accrued, but there are setup costs and other fees including a one-off documentation fee as well as the cost of your advice and any government charges (property searches, registration fees etc).

CASE STUDY

Bob wants to build overseas travel memories and buy a carBob is a single 73-year-old, until recently had been working part time at Bunnings and is receiving a part pension. His Sydney home is valued at $1 million and he owns it outright. Bob would like to access $140,000 as a lump sum so he can upgrade his car and take his kids and grandchildren on an unforgettable overseas adventure. He is extremely sensitive to interest rates and would prefer to not take a loan out on his home. In this case, a home reversion product could work for Bob.


Fractional Property Transactions


Like home reversion products, a fractional property transaction allows you to access some of the value of your home now without creating a debt.

While home reversion is based on the future value of your home, fractional property transactions are based on the current value of your home.

New to Australia, equity release via fractional property transactions are financial products that allow you to:

The funds can be used for any purpose and you retain title to your property, and lifetime occupancy. It also allows you to rent out your home if you choose and retain the rent.

In addition to providing funding to senior homeowners, these new financial products allow investors – including Self Managed Super Funds – to invest in real estate (your home) and receive a fixed rental income on the portion of the share that has been purchased from you. The other major advantage of these products is that they are available nationwide and unlike some others, are not restricted to specific postcodes.


Sell a percentage of your property to an investor, via a provider, in exchange for a lump sum now

A staggered settlement paid monthly for an agreed period of time (e.g. $100,000 equity release paid at $1000 a month over 100 months)

OR

Benefits of fractional property transactions

Fractional property transactions allow you to access interest free capital in your home in either a lump sum, or as a staggered payment plan.

Other benefits include:

Another key benefit is that families can retain 100% ownership of the home (i.e. your sons and/or daughters can buy a share of your home via their Self Managed Super Funds, or ordinary money, or a combination of both – providing you with the capital you need now, while keeping the home within the family group for the future).

Equity reduction

As you are agreeing to sell a portion of your home for an agreed amount, this will reduce the amount of equity you retain in the home. You will however continue to benefit from any capital growth and/or be exposed to any reduction in home value on your retained share into the future.

Because you are selling a percentage of your home and are continuing to live there, you are required to pay rent on that percentage of ownership to the investors.

Over time – at subsequent five-year periods, this further sale of equity may result in your equity share in the property being substantially reduced or even exhausted.

Funds can be used for any legal purpose

You retain the title to your home

Remain living in your home for as long as you choose

No compounding interest and growing debt

Costs are fixed

Capital growth (if any) on your portion of the property



Again, understanding what this equity reduction looks like now and in the future, when you may need to sell the home and move into aged care, is vitally important.

It is a requirement that you receive independent financial advice before entering into an equity release via fractional property transaction contract.

How is the facility paid out?

You will receive either a lump sum or regular payments and your home remains yours to live in or rent out. When it is eventually sold some time in the future, and you receive the residual sale price at the same time, investors receive their share of the proceeds.

Government regulated

Fractional property sale products are financial products and therefore, subject to stringent government regulations (i.e. require a financial product disclosure statement [PDS] and can only be recommended as part of a financial advice process, by an authorised representative of an Australian Financial Services Licensee).


There is currently only one fractional property transaction product available in Australia. Set up fees, annual fees and other charges apply, which will vary depending on a number of factors such as your age and the percentage of your home you wish to sell.



52%$1.54m

62%$1.59m

71%$1.55m

21%$845k

NOW 5 YEARS 10 YEARS 20 YEARS

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Income - there is no increased income, however the property could be rented out during the whole period

LUMP SUM AGED CARE RAD AND ONGOING CARE EXPENSES: $500K RELEASED

29%37%

48% 79%$2.2m

$2.55m

$2.95m

$3.97m

INVESTOR OWNED

TOTAL HOUSE VALUE

HOME OWNER OWNED

CASE STUDY

Arthur needs care and wants to keep the family homeNinety-year-old Arthur, a widower, needs to leave his family home and go into residential aged care. His children do not want to sell the $2.2M heritage home in the Perth suburb of Dalkeith but want to raise the funds to pay for their father’s Refundable Accommodation Deposit (RAD) and ongoing care. which will also reduce the Daily Accommodation Payment (DAP) and assist cashflow. A fractional property transaction product would allow Arthur’s children to buy a portion of his home, via their Self Managed Superannuation Funds. This would provide lump sum funding for aged care, at the same time ensuring ownership of the home remains within the family, allowing them to continue to occupy the home, or to rent it out. Other non-related investors could be invited to become part owners too. The portion that is being sold can be kept private or be made public to attract more investors.



Pension Loans Scheme


The Pension Loans Scheme (PLS) is a Federal Government scheme which allows Australian pensioners to receive a fortnightly income stream (tax free) by taking out a loan against the equity in their home.

Administered by the Department of Human Services, the scheme allows you to borrow up to 1.5 times of the maximum Age Pension which will be paid in fortnightly instalments. It is not available as a lump sum.

To qualify for the PLS you must be:

Your age and how much equity you have will determine how much you can receive.

Originally introduced in 1985, the scheme was significantly expanded in July

2019 with the aim of encouraging more Australians to take advantage of this underutilised service.

The scheme is now available to all retirees of Age Pension age who meet the eligibility criteria.

The amount you can borrow under the PLS is limited so you do not end up owing more than your home is worth. It is important to note, the PLS is not considered to be a reverse mortgage and therefore does not carry the “no negative equity guarantee”.

While having an existing mortgage does not automatically make you ineligible for the PLS, it is common for loan contracts to prohibit an additional charge being placed on the property. Generally, a bank will demand to have its interest registered as a first mortgage and this may or may not be acceptable for the PLS to register its interest second to the bank.

Of Age Pension age

Own real estate in Australia that can be used as security for the loan

Have adequate and appropriate insurance covering the real estate offered as security

Are not bankrupt or subject to personal insolvency agreement

Receive/or be eligible for an Age Pension or other government pension



Benefits of the Pension Loans Scheme

Unlike many reverse mortgage products and other equity release arrangements, the Pension Loans Scheme is available nationally, to every location including remote and rural.

The scheme has an attractive interest rate – currently 5.25% - which is less than some lenders – and there are no establishment fees or monthly charges.

It allows you to top up your pension and remain living in your own home.

Capitalising interest and equity erosion

While the PLS is not a financial product, it does operate in the same way as a reverse mortgage and therefore interest will capitalise (fortnightly) on the amount that you borrow.

There will also be a reduction in the amount of equity you have in your home over time.

How is the loan repaid?

Similar to a reverse mortgage, the loan is paid out when your home is sold in the future, whenever that may be. The residual sale proceeds will go to you.

However you are able to make repayments to the loan at any time.

Government managed and distributed

As mentioned previously, the PLS is a government managed scheme which is administered by the Department of Human Services and distributed via Centrelink.

Fees and charges

While there are no establishment fees or monthly account fees, Centrelink may charge costs (including legal fees). These costs are only determined after the loan application is made and can either be paid immediately or added to the loan balance.



Beryl is a 68-year-old widow who lives in Ballarat in country Victoria. She owns her home which is valued at $400,000 and receives a full pension. Beryl would like to top up her pension a little each fortnight so that she can live more comfortably.

Beryl’s choices are limited by the fact that she is not keen on selling her home – or part of it – and her post code is outside of the area that reverse mortgage lenders will consider. In this case, the Government’s Pension Loans Scheme could be a good solution for Beryl.

Ballarat Beryl wants to top up her pension

CASE STUDY

100%$400K

84%$393K

67%$363K

55%$415K

NOW 5 YEARS 10 YEARS 20 YEARS

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$756K

$543K$468K

$400K

Centrelink indexed at 2% Year On Year

$24KSingle Age

Pension

$60K

$45K

$36K

$24K

$36KSingle Age

Pension Pluspension

loansscheme

LOAN HOME OWNER OWNED TOTAL HOUSE VALUE


What can I use equity release for?

You can use equity release in a number of ways to improve your quality of life, or to meet those unexpected costs that can cause financial stress.

Some products only allow you to top up your income either with fortnightly or monthly payments. Other products only provide funds in a lump sum and some do both.

There are many reasons why retirees seek to access funds from their homes, including:

To top up income and improve quality of life

Improve cashflow and relieve financial stress

Refinance or pay down debt (to improve cash flow)

Create a cash reserve and/or replace savings

Home maintenance, repairs or modifications

Overseas travel

New car or caravan

Aged care funding (at home or in a facility)

Medical costs

Improved in-home security and monitoring

Gifting

All available products allow you to use the funds for “any legal purpose”, the only limitation being whether the funds are delivered as regular payments or a lump sum and the amount that can be accessed.

Care needs to be taken with lump sums because in certain circumstances, it may impact the amount of government pension you receive. With the right advice however, negative impacts may be avoided or reduced (i.e. if the lump sum is spent within a certain period of time).

How do I know if I am eligible?

If you are over the age 60 and you own, or largely own your home, you have already met the fundamental criteria for a number of the available equity release products.

As mentioned previously, some products are only available on properties in certain cities and states, while others are available nationwide.

What’s right for me?



How much can I access?

How much you can access is dependent on a number of factors:

– You and your partner’s age

– The number of homeowners

– The value and location of your home

– Your level of home equity

– Whether existing debt can be extinguished

– Individual lending/product criteria and agreements

All products have limitations on the amount of capital you can access to protect both you and the provider.

For example, most available reverse mortgages have rigid “loan to value ratios” (LVRs) built into the product. This means that you cannot owe the lender more than between 35% and 45% of the total value of your home at age 90.

Seeking the right advice ahead of entering into any agreement for an equity release product will help you better understand your options and how much you might need to access from your home to meet your needs.

What product works best?

Different equity release products do different things and are designed to help retirees in a variety of ways.

If you are seeking to top up your income just a little each month, then the Pension Loans Scheme or a reverse mortgage with regular drawdown payments could be the solution.

A reverse mortgage can also be used if you need a lump sum to refinance or pay down debt, or to make a big purchase, while the Pension Loans Scheme cannot.

Lump sum capital is also available via home reversion products and fractional property transactions, with the latter also capable of facilitating regular payments as well.


Product suitability is also dependent on how long you intend to have the facility for, your age and health, your aged care and legacy needs and your sensitivity to interest rates.

Both government and the majority of providers strongly recommend that retirees seek independent expert advice (including financial and legal advice) when considering equity release as a retirement funding solution. For some lenders and providers, as outlined above, it is actually a requirement. It’s also highly recommended that you discuss your plans with your family and beneficiaries and include them in the process.

Alternative to downsizing

Equity release allows you to access some of the locked value in your home – without the need to sell it – and while you are still able to enjoy it, or at those times when you really need it.

Using equity release in this way can allow retirees to*:

Remain in their own home for as long as they choose

Maintain, modify and increase the liveability in their homes

Access funds for overseas travel or new and replacement vehicles (i.e. caravans)

Pay for in-home care or big medical costs

Refinance debt and help eliminate financial stress (without the need for regular repayments)

Use lump sums to fund aged care (i.e. Refundable Accommodation Deposits)


*Terms, conditions and lending or eligibility criteria apply. SMOOTH RETIREMENT 24


Similarities and differences

While there are some similarities between equity release products, there are also some key differences. Here’s some of the key product features below.

What are the potential disadvantages?

All equity release products, by their very nature, will reduce the amount of equity you have in your home over time.

It makes sense that if you use some of the accumulated wealth from your home now, you are likely to have less capital available to you later.

It is all dependent on the rate of property growth in your area, the value of your home, how much you borrow, or agree to sell, how long the arrangement has been in place and the associated interest rates (or the cost of accessing capital, now) and costs.

In some cases, if your house fails to grow in value, or worse devalues, you can be left with even less equity than planned – also known as an “equity squeeze”.

With so many variables at play, and everyone’s situation being different, it’s recommended that you get independent financial advice when considering equity release as a potential retirement funding option.

While these products can certainly provide access to increased funds for an improved quality of life, they need to be considered as part of a wider strategy that includes aged care funding and your legacy objectives.


With a reverse mortgage, the loan becomes due when the house is sold or within a certain period of time after the last borrower leaves the home

With fractional sale products, the remaining stake is sold in the future, as per your timing requirement

With all equity release products, you continue to own/or mostly own your home, depending on the product and terms

With a reverse mortgage and home reversion, the products have been designed so you cannot be forced to sell and/or leave your home

With a fractional sale product, you can only be removed from your home if a default event occurs.

There are no regular repayments required with all products

How do I apply?

You can apply for a reverse mortgage or home reversion product directly through the reverse mortgage lender or home reversion provider.

There are some equity release providers however who only distribute their products through accredited mortgage brokers.

Many providers require clients to receive independent financial advice, and in most cases independent legal sign off or representation.

Fractional sale products, for instance, are financial products and require financial advice.

With the main question being, which loan or non-loan product will best suit my purposes? It is always prudent to seek independent financial advice and guidance.


50%

$500 billionof retirees own their own homes [1]87%

$20% of all retiring couples have less than

in super between them [3]

$100,000

More than of Australian retirees take debt into retirement [2]

We’re living longer than ever –

age for men

and for women [6]

8487

$200,000– the average Aussie super balance – will fund a comfortable retirement for just

10 15to years [7]

Australian retirees own an estimated

in untapped home equity [4]

By 9 million Australians will be 65 and over [5]

2057,You need $640,000 as a couple and $345,000 as a single to live a

retirement in Australia today [8]

“comfortable”

Did you know?


[1] CoreLogic, National Housing Market Update, 2018[2] Dept. Social Services Study with CSIRO research arm Data6 and Challenger 2015[3] Dept. Social Services Study with CSIRO research arm Data6 and Challenger 2015[4] Productivity Commission report. Housing Decisions of Older Australians 2015[5] AIHW Older Australians at a Glance 2018[6] AIHW Older Australians at a Glance 2018[7] Credit Suisse Research Institute Global Wealth Report 2018[8] ASFA Retirement Standard 2019

We have strategies to help you in the following ways:

About Smooth Retirement

We are independent equity release advisers and brokers delivering a new, all-in-one service to retirees Australia-wide.

Top Up Income –

Do you own your home but need to increase your retirement cashflow?

Cash Reserve–

Need some funds on hand for life’s unexpected events?

Full Age Pension–

Are your savings preventing you from receiving a full pension?

Access Lump Sums–

Are you thinking of selling up to cover big costs such as home renovations, travel and medical expenses?

Refinance Debt–

Are debt repayments eating into your retirement income?

Aged Care Funding–

Do you need to pay for care at home or in a residential facility?

Our team provides expert advice, backed by smart technology, to help older Australians improve their lifestyle in retirement by releasing some of the cash from their home.

We use our proprietary-built retirement planning software to help you decide if equity release is right for you. We can also identify which product works best to meet your goals.

We create sensible, long-term tailored plans (up to at least age 95) which aim to get the most out of your superannuation and savings, Age Pension, and any other sources

of income, by using some of the tax-free, untapped wealth locked up in your home.

We are a fee-for-service company and proudly choose to accept no commissions from lenders or providers for the work we do - which means we always act in the best interests of our client and help them to choose the right solution for them, every time.


Find out more

Copyright Notice and General DisclaimerThe information in this guide is the property of Smooth Retirement Pty Ltd, unless otherwise stated. Material in this guide is intended for your general use and information. You are free to copy and distribute any of the material so long as it is provided unaltered and complete including this copyright notice. The information provided is correct to the best of our knowledge, but no warranty as to accuracy is given and each person or organisation should not act on the basis of its contents without taking appropriate advice. The information in this guide is general in nature and has been prepared without taking into account the needs, objectives, or financial situation of any particular individual. Individuals should consider their own circumstances and, if necessary, seek professional advice. All equity release products are subject to the terms, conditions and approval criteria of the providers and fees and charges apply. Please note that the information set out in this guide is subject to change.

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Need more information?

If you would like to find out more, visit our website smoothretirement.com.au or call us on 1300 510 015. Book your free, no obligation consultation with one of our qualified team. You can also find more information on equity release, including reverse mortgages, home reversion products and the Pension Loans Scheme at:

ASIC – Australian Securities and Investments Commissionhttps://www.moneysmart.gov.au/superannuation-and-retirement/income-sources-in-retirement/home-equity-release 1300 300 630

Department of Human Serviceshttps://www.humanservices.gov.au/individuals/services/centrelink/ pension-loans-schemeCentrelink: 132 300

Simply Retirementhttps://simplyretirement.com.au/retirement-finance-reverse-mortgages

understanding equity release - knowledgemaster · the most common type of equity release in...

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