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Seniors Equity Loan

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Are you an Australian homeowner aged 60 and over?
Looking for more liquidity without having to sell your home?
Then you are eligible for a Seniors Equity Loan.

A seniors equity loan (also known as reverse mortgage) is a loan tailored for seniors, allowing them to access funds in retirement. Homeowners aged 60 and above can tap into their home equity without selling their property. With this loan, seniors retain ownership and can live in their homes without making ongoing payments. The loan is repaid when the homeowner permanently leaves the home.  

Borrowing Power The amount you can borrow through the seniors equity loan will be determined based on factors such as your age, property value, and location. Interest Rate Interest is calculated daily and added to the outstanding balance on a monthly basis. Repayment The total amount owed will become due at the end of the loan term when you permanently move from your home, whether it's downsizing, transitioning to aged care, or passing away. You have the flexibility to repay the loan in full or in part at any time without incurring penalties. 

How much can I borrow?

Lump Sum You can receive a one-time lump sum payment, which is ideal for discretionary expenses like vacations, home improvements, debt consolidation, or other financial needs.  

Regular Instalments You can opt for regular instalments, providing a steady income stream to supplement your living expenses or cover ongoing costs like home care services. This option ensures a reliable flow of funds and can be adjusted if you later require a lump sum payment.  

Cash Reserve (Line of Credit) If you don't need immediate funds, you can establish a cash reserve or line of credit. This allows you to keep funds in a separate account that can be accessed as needed. It provides a financial safety net for unexpected expenses, giving you peace of mind and greater flexibility in retirement planning. Note: There may be fees and minimum access amounts associated with this option.

How much can I borrow?

Aged care, medical, or dental expenses

Refinancing an existing mortgage

Day-to-day retirement expenses

Debt consolidation in Lump Sum

Home care and in-home support

Home renovations and maintenance

Financing a seniors cruise or travel

Finance travel and holidays, locally or overseas

Gifting funds to family

Vehicle repairs or purchasing a new vehicle

How much can I borrow?

Choose Your Path to Financial Freedom Choose from a lump sum payment, line of credit, or regular income stream to suit your needs.  

Stay in the Comfort of Your Own Home Retain full ownership and live in your primary residence without monthly repayments.  

Preserve Control + Equity with Voluntary Payments Watch your loan balance grow over time, but have the option to make voluntary payments to preserve home equity.  

 Repay on Your Terms Flexibility to repay the loan when you sell the property, move to aged care (select lenders), or upon the last borrower's passing.  

No Negative Equity Guarantee In 2012, the Australian Government introduced The No Negative Equity Guarantee (NNEG), a law that protects reverse mortgage borrowers from owing more than their home’s value, and from being liable if the property is sold for less.

We're West Australia's Top Senior Equity Loan Broker helping seniors unlock the value of their home. Why broker instead of a direct lender?  

✓ Access to a variety of lenders for more loan options. ✓ Expert guidance and personalised advice throughout the process.   ✓ Comparison of loan options to find the best fit for your needs. ✓ Potential access to exclusive deals and special offers. ✓ Strong negotiation skills to secure competitive rates and terms. ✓ Advocate on your behalf during the mortgage process. ✓ Assistance with complex paperwork and documentation. ✓ Knowledge of the latest market trends and loan products. ✓ Ongoing support and assistance even after the loan is finalised.

How much can I borrow?

Frequently Asked Questions (FAQs)

  Here's All that you Need to Know.   Who Owns the House in a Reverse Mortgage? With a reverse mortgage, you’ll continue to be the full legal owner of your property. You can stay in it for as long as you desire. Your lender will only take the mortgage. As long as you do not ‘default’ under the agreement by breaching key obligations, your lender cannot force you to sell your home.   What If I Want to Sell My Property? When you decide to sell your house, move into an aged care home, or pass away, your reverse mortgage loan will need to be repaid in full, including interest and fees.     Will a Reverse Mortgage Affect my Pension? A reverse mortgage may affect your pension or other Government benefits that you can access. For this purpose, it’s recommended that you seek proper financial advice from Centrelink or speak to a financial expert on how your pension may be affected.   Are there Costs for Repaying the Loan Early? You can repay your reverse mortgage loan early if you desire. No extra costs are levied if you partially or entirely repay your reverse mortgage loan.   Are Reverse Mortgages Regulated? With the passing of the National Consumer Credit Protection Act (2012), reverse mortgages have become one of Australia’s most highly regulated credit products. As a result, explicit protective measures have been implemented for consumers at the start and end of the loan process.     How it Works, Explain with an Example. Rose is a single pensioner who owns a home worth $500,000. She wants to make some renovations to her property to suit her needs and to travel overseas to see family.  To fund her plans, she takes out a reverse mortgage for $50,000 and chooses to receive it as a lump sum.  Over time, the value of her home goes up and, when she dies, her children (her beneficiaries) sell the house for $700,000. The bank is owed the $50,000 plus the interest that accumulated since she took out the reverse mortgage.  For Rose, the reverse mortgage meant she had more income to spend during her retirement years.     What happens if you haven't paid off the loan when you die? The loan is settled by the estate normally within twelve months.

I'm Terry Charles Frankland,

Your Personal Senior Equity Loans Advisor for Seniors 60+ For the past 33 years, I've had the opportunity of working in Australia's Wealth Management business, including real estate investing, mortgage lending, financial planning, wealth protection insurance, and now, in my senior years, guiding equity-rich, cash-flow-poor homeowners in improving their retirement lifestyles, which is basically topping-up their pension, super, renovate or pretty much anything legal with the options for no mortgage payments over set periods….Terry Charles Frankland Terry is quickly becoming known as the ‘go-to person’ for Seniors Equity Loans for 60+ with the recent resurgence (particularly in the Eastern States) of the Seniors Equity Home Loans business, also known as (Reverse Mortgages, Life-Loans, and Seniors Equity Release).  This is because of stricter government rules in that Financial Institutions that lend to older individuals are now required to provide a NO Negative Equity Guarantee and Lifetime Occupancy as a minimum. Interestingly our major banks have pulled out of this market, some say they caused the problems in the first place!! Terry is driven by the memory of his own father, who lived a long life but ran out of cash and couldn't afford to buy a new car let alone renovate bathroom and kitchen. His dad rejected any assistance from his own kids, even though they would inherit his home regardless. That made no logical sense to Terry or his two brothers Wayne & Trevor!! As the equity growth would have covered it.   Terry is now on a mission to educate others, like his father, about the prospect of an even more promising retirement future if the proper steps are taken.  The first thing he does is provide a free house appraisal utilising his real estate skills so that both parties understand how the money will work right away. Avoiding disappointment if the valuation later falls short of the funds required. All of this adds to a smoother and easier outcome in terms of which loan options from which lender would be not-unsuitable for borrowers, as opposed to Terry's dad, to live a more comfortable retirement, which is always the clear goal. “These New Innovative Home Equity Loans for Seniors are Experiencing Explosive Growth across Australia.” 1300 766 038 or 0422 683 755 www.SeniorsEquityLoans.com.au  

Our Partners

A good friend of mine told me about Terry Frankland.  At first, we were a little nervous, but Terry was able to get right to the point and figure out what we wanted.  After that, he took us through all the options from all the lenders and carefully explained each one. When we finally decided on one, Terry made sure we knew all the conditions and the next steps.  I can't say enough good things about him if you want a skilled, smart, and effective broker. The Teichelman’s.  

I always know I’m Terry’s longest client because he is always telling me.  I don’t know what I would do without his guidance, not just loans but when my dad passed away, he helped my Mum through all the tricky issues, she loves him.  I’ve had many properties over the years and Terry has never let me down.  His knowledge on financial stuff is amazing.  Thank you so much team Terry. Wanda Jurgowiak.  

Dear Terry – I felt it necessary to drop you a line to let you know how grateful I am for all your help and invaluable advice over the years.  As you know the last twelve months, I was a complete mess not knowing what to do about my financial circumstances and suffering intense anxiety about the whole situation.  After praying very hard for days about my circumstances, I rang your number unintentionally, and the rest is history.  You gave me peace of mind along with practical advice and wise council to get me back on the track financially.  You managed my affairs while I was away for six weeks so I could focus on my mission trip.  I dread to think where I would be without your reassurance and caring.  You are indeed a blessing Terry Frankland.  Thank you so much for everything. Julie Barrie.  

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