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PROPERTY NEWS
Property prices rise (ever so slightly) in 5 capital cities
For the second month in a row home value data suggests the property market's decline may be over. Read more…
Is now a good time to refinance?
Consumer finance expert Lisa Montgomery looks at the huge savings you can get by switching home loans when the rates are this low. Read more…
Explainer: What’s going on with the RBA cash rate?
How the RBA cash rate works, why it affects savings and home loans, and where to get the best value right now. Read more…
4 ways you can take advantage of falling mortgage rates
Home loan interest rates keep getting lower. Here's how you can make the most of it. Read more…
APRA has just made it easier to get a home loan
Lenders can now test your ability to make repayments by adding 2.50% to your loan's interest rate. Read more…
Loyalty to your lender could be costing you thousands
41% of Australians feel trapped in their mortgage. But you're really not, and sticking with a lender who isn't loyal to you is a costly mistake. Read more…
My husband 75 years and I 70 years. We are planning to sell the family home in 12 to 18 months. We have tried to access a reverse mortgage from CWB ( who we bank with ) and have been refused. We run a B&B from our family home and have done for 10 years. We have also gone security guarantor for our son and his wife (160,000) with Westpac. We own our home which has been valued by a valuer at $1.500.000. We have no debts and have never had a bad credit rating. Could you please advise us where to apply and if you think we have any chance of accessing around $30,000. Thank you.
Hello Frances,
Thank you for your inquiry.
May I confirm if both of you are pensioners? If you are, we have a full-guide written for pensioners who are seeking home loans. On that page, we have listed some tips on how to apply for a home loan, the types of home loans you may qualify for, and the advantages and disadvantages of pensioner home loans.
Should you identify that reverse mortgage suits you, we have a list of lenders that you may consider. Take note that you need to review their requirements and loan terms before proceeding.
Alternatively, you may consult a mortgage broker for a personalized advice based on your needs.
Hope this helps.
Cheers,
Jonathan