Hi, it’s Don Murdoch here, from reverse mortgage broker, Seniors First.
A common question I’m asked is “Will a Reverse Mortgage affect my Age Pension?”
The quick answer is: maybe.
If you’re a Queensland Age Pensioner thinking about Reverse Mortgage, this should be the focus of your attention right now.
I’ve done hundreds of Reverse Mortgage loans & in my experience there’s usually no impact on the borrower’s pension.
BUT every case is different, and you can’t be too careful.
Here are the top warning signs a Reverse Mortgage could affect your pension:
· You’re on a part-Age pension · You want to draw a large lump sum; or · You intend to ‘gift’ money to family
Now this is really important, because if you get it wrong: – it can cut your Age Pension entitlements. – reduce your retirement income. – cause financial stress.
So what’s the answer?
Well, I’m going to share the top THREE actions you can take to minimise risk.
AND I’ve got a special FREE offer too…
Thanks for watching & bye for now.