We all aspire to having greater financial freedom to do things that bring us the greatest pleasure. Imagine taking that well-deserved holiday, being able to invest in the projects you’ve always wanted to around the home, or just being able to enjoy your hobbies.
What if there was a way to achieve that freedom without going into debt or downsizing?
You’ve worked long and hard to own your home, why not enjoy some of the equity you’ve created experiencing some of life’s pleasures. Homesafe Wealth Release® is a secure and simple way for you to receive the cash you need today and when you decide to sell your home, only then would Homesafe receive its share of the sale proceeds.
Homesafe Wealth Release
Homesafe Wealth Release® gives you a lump sum today* for selling Homesafe an agreed share of the future sale proceeds of your home. Unlike a reverse mortgage:
- you are not borrowing against the equity of your home
- you sell an agreed portion of your home up to 65%
- there are no loan or voluntary repayments
- only when you are ready to sell would Homesafe receive its share
- more importantly you will always retain the share of the sale proceeds of your home that you have not sold to Homesafe.
So how does it work?
Step 1 - Today
You enter into a Homesafe contract to sell a share of the future sale proceeds of your home. Homesafe is not entitled to anything more than this agreed share and will only receive its share when you sell your home, or when your home is sold after the death of the surviving party.
Step 2 - Release
In exchange for selling Homesafe an agreed share, you receive an upfront cash amount on entering into the Homesafe contract. The cash you receive is less than the 'face value' of the share you sell to Homesafe due to the valuable entitlements you retain for life.
Step 3 - Future
When your home is eventually sold, you or your estate will be entitled to the share of the sale proceeds not sold to Homesafe, and depending on when your home is sold and for what value, you may even be entitled to an Early Sale Rebate.
Is Homesafe right for you?
- Are you at least 60 years of age (or at least 55 years of age in New South Wales, where at least one Homeowner in NSW is at least 60 years of age)?
- Is your home located within the eligible post code areas in Melbourne or Sydney? (approximately 90% of metro Melbourne and Sydney postcodes are currently covered)
- Is your home freestanding (we can assist with duplexes or units (VIC) where there are no more than four on a plan)?
If this sounds like you or someone you know, drop into our branch, or contact our dedicated member team on 1300 65 33 28 or email firstname.lastname@example.org should you have any questions.
A product of Homesafe Solutions Pty Ltd (ACN 106 784 918), a company equally owned by Athy Pty Ltd (ACN 005 852 246) and Bendigo and Adelaide Bank Limited (ACN 068 049 178). Conditions apply. This product involves the sale of a part interest in the future value of homeowner’s property to Homesafe Solutions Pty Ltd. Homesafe Solutions Pty Ltd is a company limited by shares and neither Athy Pty Ltd nor Bendigo and Adelaide Bank Limited, nor any of their related bodies corporate (to the extent permitted by law) have any legal liability to you in respect of the product Homesafe Wealth Release® or the company Homesafe Solutions Pty Ltd.
* Terms, conditions and eligibility criteria apply