Company News

3
Oct

A Big Future For Reverse Mortgage: Seniors First Re-Launches

The day is finally here: I’m really excited to announce the official re-launch of Seniors First!

I can’t quite believe it, but it’s been eight whole years since we first started helping Australian seniors with reverse mortgage and equity release finance. Where did the time go??

It feels just like yesterday, but since 2006 we’ve helped thousands of people, won industry awards, and developed a reputation I’m really proud of.  If you’re interested, check out our history page (yes, I’ve aged!)

What’s Our ‘Re-launch’ All About?

Well it’s my view that all good organisations never stand still for long. To be successful over the long-term companies must constantly listen, adapt and develop over time so that the needs of customers always met. The world changes fast, and we must change with it to keep up. Our re-launch is a conscious way to demonstrate to you, staff and partners that we are positioning for the future of reverse mortgages. And that future is online.

To this end, we’ve refreshed the Seniors First brand identity with an updated logo.

And we’ve worked with my other business to build this amazing new website. Our objective was to create a leading online resource for reverse mortgage and senior’s home equity release in Australia. We want this site to become THE destination for retirees, pensioners, and families who are considering reverse mortgage finance so we’ve packed it full or really useful information and tools:

Why Are We Re-launching Now?

The GFC of 2008/2009 was very hard on the reverse mortgage market in Australia. Essentially the number of lenders shrank from over twenty to just a handful. This was bad for consumers and the lack of product choice resulted in many borrowers missing out, or perhaps paying more in interest and fees that they otherwise might have. A lack of competition is never healthy for any market.

However I’m pleased to report that (five years later!) new lenders and products are once again emerging. As this rate of innovation of product choice increases, senior borrowers will need a specialist finance broker more than ever before.

In addition, there are signs of ‘shifting sands’ in public policy that are worrying many pensioners and self-funded retirees. The Government is increasingly giving signals that aged pension funding, health card concessions, and tax breaks that favour seniors are under review and may be reduced, or cut. In this environment – and with the vast majority of household wealth stored in property – the ability to release equity from the home safely and easily may become crucial for many Australians.

In the near future, it’s very possible that government policy will push more of the retirement funding burden to individuals and thereby increase the demand for reverse mortgages. With our new website, extra staff, and investment in online technology, I’m pleased to say this is a challenge that Seniors First is ready to meet.

Regards, Darren