Seniors Equity Finance

What is Seniors Equity Finance?

Following the Governments Negative Equity Pledge, which means you can always stay in your home if you want to, seniors equity finance can be divided into two parts.

The first is when a senior wants to move to a retirement village or aged care facility and needs up to $850,000 for a refundable deposit to do so. The easy fix is to sell your home, but now with the Governments pledge, it may be better for you to borrow the funds against your asset, get the care you want, but keep the family home.

The second part is available to those of you who are still comfortable living at home but are asset rich and cash poor, you just need funds to continue your desired lifestyle including renovations, purchase of new motor vehicles, travel or to consolidate debts.

How can AAA Seniors Equity Finance assist you?

We have a number of lenders in this particular field. Rates start at 5.99% for larger loans where applicants need a large deposit to get into retirement or nursing facilities. Loans from $20,000 to $1,000,000  it is 6.19% pa interest and these funds can be used for travel, motor vehicles, consolidations etc.

There are no forthright charges and no valuation for properties up to $2 million.

Monthly interest is not payable it is capitalised

The amount you can borrow is dependent on your age. The minimum age is 60 years and you can borrow 15% of the value of your home, holiday home or investment property and 1% for each year your age is over 60 years.

If you are 70 years old you can borrow 15% plus 10% of the value of your property. (i.e. 25% of the property). If you are 75 years old you can borrow 30% of the value of your property. Which includes paying out an existing mortgage.

What do I need to provide to qualify?

  • Identification (drivers licence, passport, senior citizen card)
  • Copy of Rates Notice.
  • Centrelink statement.
  • Copy of Home Insurance Certificate
  • Property valuation must be more than $300,000. We can arrange a free valuation for you.

John Macalyk is a SEQUAL approved advisor & a licensed credit advisor.

Contact him for questions or information today:
02 9299 1144 or email