On the Equity Release front i'm not sure if you were part of the postings around the 21st November 2018, but I have extracted one of my posts for your edification.
Aqu,All of these products that are on the market are" Equity Release";In so far as any new or additional borrowing against your home utilizes spare equity usually obtained over the years through capital gain. The distinction between the products seems to be how the lender treats the interest , ie Balloon, no repayments, or takes a equity stake or a combo of interest and equity. Usually capped at 20-30% LVR, with terms in some instances out to the death of the borrower, ie actuarily 7-30years for over 65year old Males.To say this is a first is somewhat of a bold headline.I believe "Homesafe" is a JV between Bendigo Bank and Szabo, so I'm guessing a fairly large balance sheet behind that, with significant infrastructure. Possibly a bit larger than DoMacOMsIMO, I don't think it's really a first, however details as it seems are pretty scant. Lets see why DoMacOm claims it's a first after we get some more detail from them. Always seems to take them a while.Not sure why you would say this product is "NOW AVAILABE". Give me the Name of any Financial Advisor or Group who can do this today or tomorrow. I don't think you can.Cheers
DCL Price at posting:
11.0¢ Sentiment: None Disclosure: Not Held
(20min delay)
