Unlock Your Equity: Aged care Funding

Do you own your home and need a solution to fund Aged Care?

We understand that funding aged care can be a challenging financial concern. Whether you're preparing for future care needs or seeking immediate assistance for yourself or a loved one, a reverse mortgage can be an effective way to unlock the value of your home and access the funds you need for aged care, all while maintaining ownership of your property.

This type of loan gives you access to funds, which can be used to cover aged care expenses. Repayments of the loan, including interest, are deferred until the property is sold.

How can a Reverse Mortgage help fund Aged Care?

A reverse mortgage can offer flexible financial solutions to help you or your loved ones:

1. Fund In-Home Aged Care: Access equity to pay for home care services, allowing you to stay in your home for longer with professional support.
2. Relieve Financial Pressure: Cover care expenses without the need to sell your family home.
3. Assist with Aged Care Home Costs: Fund aged care accommodation in two ways using a reverse mortgage: 

• Covering a RAD (Refundable Accommodation Deposit): Use the funds from a reverse mortgage to pay the RAD as a lump sum, eliminating the need to sell your home upfront.

• Funding a DAP (Daily Accommodation Payment): Alternatively, you can draw down smaller amounts to cover the ongoing DAP, offering flexibility in managing aged care costs without requiring a large lump sum.  

Benefits:

• No Regular Repayments: You’re not required to make any repayments during the life of the loan, which reduces financial pressure.
• Flexible Use of Funds: The loan can be drawn down in a lump sum, as regular payments, or a combination of both—giving you the flexibility to manage care costs over time.
• No Negative Equity Guarantee: Ensuring that you or your estate will never owe more than the value of your home when it’s sold.

Call us on 1300 555 626 to find out more or email us below.