The repayment pause was initially designed to assist people during COVID-19. But now many of the arranged 6-month loan repayment pauses are expiring soon. However, with continued restrictions in place, many people are still unable to afford to meet their monthly loan repayments.
A Reverse Mortgage can help.
With a Reverse Mortgage you could refinance your standard home loan, keep your home, and release some further equity at the same time, without having to sell or downsize.
No repayments required.
The great thing about a Reverse Mortgage is that you don’t need to make any regular repayments, allowing you to defer your repayments for as long as you choose. The interest is just added monthly to your loan. However, you can make repayments anytime you like, at no additional cost. No obligation but you can if you prefer. The obligation is for the loan to be repaid when you move permanently from your home.
Why not contact us today and see if this solution is right for you?