Retirement is a very difficult time of life for those who haven’t saved enough for their future and the only notable asset they have is their property. Retirees no longer work upon their retirement, and they need to determine how to source additional income should they be unable to financially support themselves during their retirement. In such a situation, many seniors choose to enter into a reverse mortgage, which enables users to receive a regular payment from a financial institute against their home's mortgage, plus associated interest charges and applicable fees.
Though many retirees choose to go for this option, there are several disadvantages to reverse mortgages. These include high fees, complicated terms, and variable interest rates. Therefore, the Sell and Stay program is an excellent alternative for retired homeowners wanting to monetise their housing asset, where they can receive regular payments and stay in the at the property under a lease arrangement.
Sell and Stay is a reputable Australian company providing lifestyle options, giving retirees an opportunity to use their home as a source of income without requiring to move anywhere else. In order to get the full benefit of a Selling house privately, you need to be compatible with their eligibility criteria, most notably:
You should be at least 70 years old and retired
You own the property you live in
You can sell your home legally
If you fit the above-mentioned criteria then the Sell and Stay program may be able to assist you in living out your retirement in a financially sound way.
Your home is the place where you have spent your entire life and seen all the ups and downs of your life so you should be able to stay there as long as you wish. Sell and Stay is the best solution to get a simple and safe alternative for those who don’t want to stay in their house without needing to enter into a reverse mortgage. You can use their reverse mortgage calculator to determine how such a scheme would apply to your specific circumstances.
To compare the Sell and Stay program with other alternatives, or to source reverse mortgage information please make contact with Sell and Stay. Their experts will share their knowledge and support you in the best possible manner.
To learn further information about Sell and Stay, and understand more about its benefits, please log on to https://www.sellandstay.com.au/.
