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Showing 1 - 10 of 122 results for "Reverse mortgage"

Reconsider the home as a retirement income pillar: Actuaries Institute

ANDREW MCKEAN  |  MONDAY, 22 JUL 2024
Encouraging more Australians to access equity in their homes, combined with changes to stamp duty and the Age Pension, could give asset-rich, income-poor retirees a valuable income boost and help free up more housing for young families, according to ...

Heartland finally gets regulatory approval for Challenger Bank acquisition

ELIZA BAVIN  |  MONDAY, 8 APR 2024
... is a "critical step" in its expansion strategy for Australia. As at 31 December 2023, Heartland's Australian reverse mortgage and livestock finance businesses had around NZ$2 billion of gross finance receivables. "Completing the Challenger Bank acquisition ...

Pacific Equity Partners finances reverse mortgage lender

ANDREW MCKEAN  |  MONDAY, 14 AUG 2023
Pacific Equity Partners (PEP) will finance Household Capital, a reverse mortgage lender, to address the retirement funding and housing needs of senior Australians. PEP is investing in a financing layer of Household Capital's funding structure, alongside ...

ASIC confirms advisers can offer home equity access guidance

ANDREW MCKEAN  |  TUESDAY, 10 JAN 2023
... named the Pension Loans Scheme (PLS), has been a long-standing Centrelink scheme that functions similarly to a reverse mortgage. According to Miller, prior to recent modifications, the eligibility requirements for the scheme were restrictive, making ...

Challenger offloads banking business

JAMIE WILLIAMSON  |  THURSDAY, 20 OCT 2022
... segments of the market where we can provide products where we can differentiate from the mainstream." The group's Reverse Mortgage and Livestock Finance businesses will be transferred to sit under the Challenger Bank. Greenslade added that the plan is ...

Data demonstrates success of compulsory super: Report

CASSANDRA BALDINI  |  WEDNESDAY, 31 AUG 2022
... mortgage, just 2% used the equity of their home in retirement. Further, men were more likely than women to consider a reverse mortgage, the data shows. Two-thirds said it was somewhat or very important to leave the home as a bequest. The survey concluded ...

IFM, Citi pour $300m into Household Capital

ELIZABETH MCARTHUR  |  FRIDAY, 17 DEC 2021
... director and head of corporate banking Stella Choe added: "We are proud to partner with Household Capital, a leading reverse mortgage funder in Australia, to deliver much needed retirement funding to Australians, and help address the challenges faced ...

Prime Minister announces reverse mortgage scheme

ELIZABETH MCARTHUR  |  THURSDAY, 16 DEC 2021
Prime Minister Scott Morrison has confirmed a reverse mortgage scheme for pensioners. During a radio interview with Spencer Howson, Morrison said the mid-year budget will include a cash access scheme for pensioners. "We've had a pension loan scheme ...

Advisers overlook home equity release strategies

KARREN VERGARA  |  THURSDAY, 22 JUL 2021
Financial advisers are shunning home equity release or reverse mortgage strategies that could potentially benefit retiree clients, according to new research. Regtech Fourth Line and retiree financial services provider Pension Boost looked at the Statement ...

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 ...
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