Will A Reverse Mortgage affect My Age Pension? – Q&A

[transcript}

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.

One Comment

  1. Yvonne houghton-Reply
    May 10, 2019 at 10:31 am

    I’m retired full pension but still have a mortgage on my house husband passed away but starting to struggle
    Is your help available for me as a reverse mortgage thank you

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