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Helping you access the hidden cash in your property

Did you know borrowing $150,000 on a reverse mortgage can end up costing you over $300,000?*

*Assumes fixed interest of 7% compounded monthly with no fees applying and no repayments being made over the 10-year loan period

Serious mature couple calculating bills to pay, checking domestic finances, middle aged family managing, planning budget, expenses, grey haired man and woman reading bank loan documents at home
A reverse mortgage allows you to borrow money using equity in your home as security. The loan must be repaid in full if you sell your home, die or if you move into aged care.
Budget concept. Hole-ridden burlap sack with spilled coins
Over time the amount of money you owe the lender will increase the longer you have the loan. You are charged interest on your interest. The more the interest compounds, the bigger the amount of money you will have to pay.
Happy senior couple during the meeting with financial consultant
Call Cash For Your Backyard today on 1300 812 008  for a smarter alternative to reverse mortgage.

Cash For Your Backyard empowers you to take back control of your financial future, removing the need for the long-term commitment of a loan and its costs.

Reverse Mortgage option v Cash For Your Backyard option

Reverse Mortgage

Cash For Your Backyard

The loan balance owed to bank increases over time as interest on the loan and fees accumulate

The loan balance owed to bank increases over time as interest on the loan and fees accumulate

The loan balance owed to bank increases over time as interest on the loan and fees accumulate

Leaving your heirs and family with a big mortgage to pay. This usually means the family home cannot be retained by the heirs and will need to be sold to cover accumulated loans and interest

Leaving your heirs and family with a big mortgage to pay. This usually means the family home cannot be retained by the heirs and will need to be sold to cover accumulated loans and interest

Leaving your heirs and family with a big mortgage to pay. This usually means the family home cannot be retained by the heirs and will need to be sold to cover accumulated loans and interest

Ongoing fees and charges

Ongoing fees and charges

Ongoing fees and charges

Compound interest charged

Compound interest charged

Compound interest charged

Committing a percentage of your property future growth to bank

Committing a percentage of your property future growth to bank

Committing a percentage of your property future growth to bank

Retain 100 per cent ownership of your property title

Retain 100 per cent ownership of your property title

Retain 100 per cent ownership of your property title

Legal advice required

Legal advice required

Legal advice required

Cash available

Cash available

Cash available

*Cash For Your Backyard does not offer financial advice and recommends that you seek this elsewhere.

Reverse Mortgage Home scheme

example-1
number-1
house-1

2021 Property Value

$1,000,000*

Example of current property value

number-2
house-1

Borrow via reverse mortgage $150,000*

Interest $300,000*

Assumes a fixed compound interest of 7% and no repayments made over a 10-year period

TOTAL owed to lender

$450,000*

number-3
house-1

2031 Anticipated Property Value

$2,000,000*

Summary

Anticipated Property Value in 2031

$2,000,000*

Less owed to lender

$450,000*

$1,550,000*

Plus cash accessed via mortgage in 2021

$150,000*

Total value accessed from your property after Reverse Mortgage

$1,700,000*

Selling your backyard instead of doing a reverse mortgage can leave you $400,000 to $500,000 better off in your pocket, see example 2.

Cash For your backyard

Vs

Reverse Mortgage Home scheme

example-2
number-1
house-1

2021 Property Value

$1,000,000*

Example of current property value

number-2
house-2

2021 Property Value
after selling backyard

$850,000*

Access $400,000* from sale of backyard

No loan or interest

Retain 100% title ownership of home on reduced land portion

number-3
house-3

2031 Anticipated Property Value

$1,700,000*

Summary

Anticipated Property Value in 2031

$1,700,000*

Cash accessed from selling backyard in 2021 to Cash For Your Backyard

$400,000*

Total value retained and accessed from your property after selling your backyard to Cash For Your Backyard

$2,100,000*

The example above shows how by selling your backyard you can end up with $400,000 to $500,000 more in your hand.

The above example shows how selling your backyard and staying in your home while accessing the cash can offer many benefits.

You can downsize without selling or buying fees such as stamp duty and conveyancing when purchasing a smaller property to live in.

The option of selling your backyard versus borrowing a reverse mortgage can have many other benefits as discussed earlier, however, the biggest benefit is usually the bigger cash injection.

*Values are examples only and may vary from property to property.
*Example is over a 10-year period and is dependent on current market values.
*Cash For Your Backyard does not offer financial advice and recommends that you seek this elsewhere.

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