Is your loved one in an aged care? Then you must read this.
#Pensioner #AgedCare #Retiree #ReverseMortgage #Mortgage #HomeLoan
Heartland’s Aged Care Loan is similar to a reverse mortgage, except it has been designed specifically for those residing in aged care. As a result, unlike a standard reverse mortgage which has no term, this loan has a five year term.
The LVR determines how much Heartland is able to lend to customers, based on the value of the property used as security for the loan and the age of the youngest borrower. The table below shows the new maximum amounts that apply depending on the age of the youngest borrower.
The loan is typically used to fund aged care costs such as a Refundable Accommodation Deposit (RAD) or Daily Accommodation Payments (DAP), but can also fund other costs such as home renovations.
We have years of experience in aged care and finance, call Madhu on 0425 341 086 to help your loved one. Email us at loans@financeandmortgage.com.au for more details. Share your thoughts on Facebook.
