GrownUps® puts Reverse Mortgages to the vote

GrownUps® puts Reverse Mortgages to the vote

The GrownUps® community has its say about reverse mortages and whether it’s a solution for seniors or just the reverse.

In a recent poll held on the GrownUps® website, visitors were asked whether they would consider taking out a reverse mortgage on their home.

Of those surveyed, 13% said they might consider it if they had more information and 11% said they were unsure. While 69% said they would not consider taking out a reverse mortgage, 3% said that they were actually considering it.

According to New Zealand’s leading provider of Equity Release solutions for Seniors, Sentinel, homeowners are increasingly considering a home equity release mortgage as a retirement option.

Linda Taylor, Sentinel’s Marketing Director says, “We are seeing greater levels of understanding and comfort in the market. For those considering an equity release loan, organisations such as SHERPA are a great source of independent information, and suppliers like ourselves are always happy to answer any questions.”

Richard Poole, co-founder of GrownUps.co.nz, said that anecdotally there appears to be mixed feelings in the marketplace in regard to reverse mortgages.

“As with any investment related product or service, it’s essential that individuals seek expert advice and discuss options with family, where appropriate,” he said. ENDS

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