As the New Zealand population ages, many Kiwis are retiring with mortgage-free houses, but their personal savings and superannuation do not provide enough money to maintain their current lifestyle or allow for purchases such as home repairs, a new car or world travel. Equity release mortgages, sometimes called Reverse Annuity Mortgages, are designed to help maintain your standard of living and quality of life by releasing some of the equity out of your home without having to move.
Equity Release Mortgage
A Mortgage Link mortgage adviser will be able to explain clearly how an Equity Release mortgage works, what the benefits and pitfalls are, and has the tools to advise on the best terms and suggest the best lender for your equity release needs. Your advisor (previously known as broker) is also there to walk you through any extra fees, property valuation and legal advice needed before completing the agreement. We are aware that this isn’t a decision New Zealanders should make easily, and we are happy to meet with you to talk about whether an equity release mortgage is a right option for you.