Scott and Jacqui Phillips are passionate about helping older Australians feel more financially secure, happier, and healthier in their retirement years.
They are specialists in home equity release and specifically how it can be sensibly used to support people to live better in retirement.
The team has more than 12 years of combined experience in the reverse mortgage lending sector, and Your Home Equity is an accredited broker for Australia’s leading lenders.
The couple are champions of ethical and transparent practices in financial services and all other areas of business (and life) and are committed to growing the recognition and understanding of the reverse mortgage lending sector in Australia.
With reverse mortgages becoming increasingly popular amongst over 55s in Australia, a lot has changed in the sector in recent years, according to Scott.
“Since 2016, the industry has grown significantly and there are now more specialist lenders and more reverse mortgage products available to older Australian borrowers,” said Scott.
“While more choice is certainly good for borrowers, it makes it that much harder to compare all the different loans on offer and to figure out which one is best for you.
“The majority of Australians, around two thirds, rely on brokers to find them the right home loan and there are good reasons for that.
“Brokers are industry professionals who act on behalf of borrowers, this means we represent borrowers’ best interests, and not the lenders.
“It’s our job to know all the loans and all the different features including interest rates and terms and conditions, so that we can do the analysis and find the best deal for you.
“We also do all the running around and heavy lifting, acting as the intermediary between you and the lender, and taking care of the process from start to finish.”
According to Jacqui, using a broker also provides borrowers with the added protection of Best Interest Duty, something that does not apply to the lenders.
“All Australian brokers, including reverse mortgage brokers like Your Home Equity, operate under a strict series of laws and regulations known as Best Interests Duty.
“This means that we are duty-bound under Australian law to act in your best interests at all times when providing you with credit assistance.
“It’s our legal obligation to make sure that any loan we recommend meets not only your personal objectives but is also right for your financial situation and individual needs,” said Jacqui.
Performing to the highest industry standards (and often above) and exceeding client’s expectations are benchmarks for Your Home Equity said Scott.
“High levels of compliance, great customer service, and transparent, open, and honest practices are what we are all about.
“So you can have complete confidence and peace of mind when you work with us.”
The information in this article is general in nature and has been prepared without taking into account the needs, objectives, or financial situation of any particular individual. Individuals should consider their own circumstances and, if necessary, seek professional advice. All reverse mortgage products are subject to the terms, conditions and approval criteria of the lenders and fees and charges apply.
Equity Mortgage Specialists Pty Ltd trading as Your Home Equity / ABN 57 649 344 212
Corporate Credit Representative of QED Services Pty Ltd trading as Pursuit Broker Services / Australian Credit Licence 387856 / ACN 147 272 295