You may wish to consider
My Aged Care Loan
OVER 60,000 OLDER AUSTRALIANS ARE ADMITTED TO RESIDENTIAL AGED CARE EACH YEAR, AND ARE ASKED TO CONTRIBUTE AN ACCOMMODATION PAYMENT, RANGING FROM $150,000 TO GREATER THAN $550,000.
Our Seniors Equity Release products allow residents to use the equity in their home to pay for residential care costs. The Government has included rental income in the aged pension assessment from 1st January 2017, but any interest can be offset against that income
And for those wishing to remain independent in their home and afford the services provided for independent care, Equity Release can provide the funding to meet those costs.
Equity Release loans are available up to $1,000,000 and a maximum of 50% of the value of the home.
A loan is repaid at the end of 5 years (can be extended based upon meeting lending guidelines) or within 6 months of the passing of the borrower. There are a range of conditions and we can advise which product best suits your circumstances.
An Aged Care loan application is a simple process and we take you through all of the steps to reach your loan funding.
Call today to speak with one of our experienced credit advisers; take this opportunity to discuss yours needs and obtain a greater understanding of your options. In line with the requirements of “Responsible Lending”, our advisers are able to discuss with you all of the financial considerations, including a cash flow assessment of your aged care costs and income to meet those needs.