Details.
Equity release may provide a regular non-taxable income, a lump sum drawn when needed, funds to address an existing home loan, cost of living expenses, credit cards, a car, holidays, renovations, residential accommodation deposits or unexpected costs. A No-Negative Equity Guarantee applies by law, you remain the owner of the home, regular repayments are not required, and a MoneySmart Calculator is provided to indicate the loan effects over 5, 10 and 15 years. Property must be maintained, rates or strata paid, and the property kept insured.