Can you believe that Christmas is just around the corner? We know this time of year can bring a few extra expenses, plans and projects – and you might be thinking about accessing some additional funds utilising a reverse mortgage.
If so, now is the time to do it!
What Time of Year is Best to Get a Reverse Mortgage?
If you’re considering topping up your reverse mortgage or drawing down from your available cash reserve, and you’d like the funds before Christmas, now is the time to get your skates on.
As with any business, as Christmas approaches, people get busier. For lenders, this can mean processing times stretch out, and things can slow down as everyone tries to get their applications finalised before the holiday break. This is known as the Christmas bottleneck, and the last thing we want is for you to get caught in it!
Don’t Leave Your Reverse Mortgage Until December!
If you already have a reverse mortgage, perhaps you are thinking about:
- Topping up your reverse mortgage: If some unexpected expenses have popped up, or you are just wanting to access some additional funds for something like home improvement.
- Drawing down from your available cash reserve: Maybe you’re ready to start putting these funds towards your plans.
- Simply finding out what’s possible: Even just having a chat with one of our reverse mortgage lenders to discuss your reverse mortgage options.
Or, maybe you want to start looking into a reverse mortgage to help with:
- Making those home improvements you’ve been putting off.
- Paying off existing debts and potentially easing the pressure on your monthly budget.
- Replacing the car or covering a larger expense.
- Helping family members financially.
- Or simply have access to some additional funds to support your retirement plans.
Would You Like to Explore Your Reverse Mortgage Options?
If you are still unsure whether a reverse mortgage is the right option, email our friendly team at Your Home Equity or give us a call to arrange a no-obligation chat. At Your Home Equity, we specialise in helping older Australians understand their reverse mortgage options, how they work, and whether they could be suitable for their circumstances.
We’ll take the time to answer your questions, explain the costs and considerations, and help you understand what might be available to you.
And if you’d like funds before Christmas, starting the conversation sooner gives you more time to work through the process without the added pressure of the holiday rush. Are you unsure if a reverse mortgage is for you or if you qualify? Complete our recently updated reverse mortgage calculator today!
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 / Corporate Credit Representative (No. 530659) and Scott Phillips, Authorised Credit Representative (No. 547787) of QED Services Pty Ltd trading as Pursuit Broker Services / Australian Credit Licence 387856 / ACN 147 272 295
