Well you can, with a Reverse Mortgage through Finance Brokers of Tasmania. You can unlock your wealth and turn your bricks and mortar into a cash resource to fund the lifestyle you’d like to live.
Having ready access to your equity can also mean not having to compromise on things you really need or worry about those unexpected emergencies. Those who are enjoying the benefits of a Reverse Mortgage otherwise known as Equity Release through Finance Brokers of Tasmania have used their funds for things as diverse as renovations and maintenance, health care, paying off credit card bills, a new car, education costs for the grandchildren, paying out an existing mortgage, an overseas holiday.
The benefit of a Reverse Mortgage is that the choice is entirely yours and unlike standard loans there are no regular repayments of either interest or capital during the course of the loan. In fact, unless you decide to voluntarily pay out the loan, there is nothing to pay until you move out of and sell your home, or after your death (or the death of your surviving nominated partner).
Naturally, once the loan and interest have been repaid, the balance belongs to you and your beneficiaries.