Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 11 - 20 of 123 results for "Reverse mortgage"

More flexibility for retirees

ANNABELLE DICKSON  |  TUESDAY, 11 MAY 2021
... that borrowers under the PLS will not owe more than the market value of their property. The PLS is similar to a reverse mortgage and is available to assist older Australians who wish to boost their retirement income by unlocking equity in their real ...

Catholic Super bank implements Temenos

KANIKA SOOD  |  MONDAY, 12 APR 2021
Catholic Super's bank MyLife MyFinance has implemented Temenos' digital banking platform replacing its legacy system. Temenos said the implementation reduces the bank's complexity by moving all processes and data to one core system, Temenos Transact. ...

Challenger to buy industry-fund-owned bank

KANIKA SOOD  |  WEDNESDAY, 23 DEC 2020
Challenger will spend $35 million to buy Catholic Super's banking business, in a move that Bell Porter says could have more upside than suggested by the company this morning. Challenger and MyLife MyFinance have entered into an agreement with an expected ...

Household capital a retirement solution: Research

ANNABELLE DICKSON  |  MONDAY, 14 DEC 2020
... impact on housing and neighbourhood satisfaction. The university analysed data from Heartland Seniors Finance reverse mortgage loan book over a 15-year period and found the most commonly identified purpose for loans is home improvements (43%) followed ...

Reverse mortgages used to extinguish debt

KARREN VERGARA  |  THURSDAY, 26 NOV 2020
... number (18%) of seniors draw on their home equity to fund holidays and have extra income on hand. The use of reverse mortgage loans to payoff existing debt is on the rise, particularly since 2014, RMIT found, noting that this could be attributable to ...

Household capital remains key: RIR

ELIZA BAVIN  |  FRIDAY, 20 NOV 2020
The Retirement Income Review (RIR) has found home ownership is an important element in an adequate retirement, but not at the expense of all other income generating options. The potential fourth pillar of the Australian retirement income system, accessing ...

Retirement funding system failing: Report

ELIZA BAVIN  |  MONDAY, 3 FEB 2020
... requiring all superannuation funds to offer a comprehensive retirement income package to members and not exempting reverse mortgage brokers from best interest tests.

National Seniors partners with retirement funder

HARRISON WORLEY  |  FRIDAY, 27 SEP 2019
Australia's peak advocacy body for seniors partnered with a specialist retirement funding provider in an effort to improve retirement outcomes. National Seniors Australia (NSA) has partnered with Household Capital to work towards better retirement outcomes ...

University to probe reverse mortgages

KANIKA SOOD  |  TUESDAY, 11 JUN 2019
... provides retirement funding solutions to retirees. It will investigate the theoretical and empirical aspects of reverse mortgage demand and product design, under senior research fellow Dr Katja Hanewald and Professor Hazel Bateman. "While economic theory ...

Navigating the new Pensioners Loan Scheme

KANIKA SOOD  |  THURSDAY, 6 JUN 2019
... calls from the industry, including The Australian Institute. The expanded scheme comes into effect on July 1. "A reverse mortgage allows retirees to increase their cash flow, while staying in the family home. However, it won't be right for everyone ...