Problems with interest rates and repayments? Ask for home loan help.
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With current discrimination laws, lenders cannot discriminate on a
borrower’s upper age. Normal conditions apply with regard to repayment
capacity and equity however if a lenders was aware that a borrower was
unable to understand responsibilities under the loan contract they may
not approve a loan. Loan products, known as Reverse Mortgages are
specifically targeted at older borrowers.
They allow borrowing against residential properties on the basis that
the debt will be repaid from the property sale after death or
relocation to a retirement home.
Call Your Local Finance mortgage broker on 1300 787 665 to discuss your options
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