15 Oct Over 50 and looking for Property Finance?
Are you over the age of 50 and looking for Property Finance? You are not alone!
According to the Australian Bureau of Statistics, about 1 in 3 Australians are over the age of 50 and predictions are this ratio will continue to increase. The life expectancy in Australia is on the increase and retirement preparation is not where it should be.
Nowadays, at 50, it is still possible to enter the property market for the first time, or to buy another investment property. Age, of course, must be considered, but more importantly a good exit strategy should be established.
This will help you prepare for your desired retirement lifestyle, giving you peace of mind regarding how you would face your expenses beyond your working life.
Buying a property often induce decades of repayments, and you will probably not be part of the workforce anymore at the maturity of the Home Loan. If you are 72 before reaching the end of the loan term, which is the average retirement age for Australians, there is little chance a lender would consider your application without a good exit strategy.
Your exit strategy is your very own way to afford the life you deserve beyond work and could include but is not limited to: Superannuation, downsizing, selling some assets or reducing expenditure.
This is where we can help. At Northpoint Mortgage we are creative in helping you achieve your goals when it comes to property finance. We work with you and help you create the exit strategy you deserve in order to secure finance to assist with leveraging property in preparation for retirement.
We pride ourselves on making the lending process as smooth as possible. We take the time to understand your situation, your very own needs and requirements.
Our advice is free, as is our finance assessment. Visit Northpointmortgage.com.au to learn more about us.