7th of April 2020
Homesafe continuing to assist over 60s release the funds they need whilst ‘home’ and ‘safe’
MEDIA RELEASE – 3 April 2020
Seniors debt-free equity release provider Homesafe Solutions Pty Ltd continues to operate during the COVID-19 crisis, helping seniors in need of funds in these very difficult times.
Homesafe’s debt-free equity release solution, Homesafe Wealth Release, remains availableto homeowners as the business has transitioned to a virtual online service, and has already assisted new customers via virtual technology in recent weeks.
“For 15 years we have prided ourselves on our old-fashioned approach to service focused on meeting in person with our customers, however we are pleased to confirm we have a dedicated team who have transitioned successfully to building customer relationships and trust, in a contactless environment.”
Demand for products allowing Australian homeowners to access the equity in their homes remains strong, says Dianne Shepherd, Chief Operating Officer of Homesafe Solutions Pty Ltd - the provider of the only debt-free equity release solution, Homesafe Wealth Release, which launched in 2005.
“Many over 60s are suffering financial stress, yet don’t qualify for additional government assistance.
“We are receiving a number of enquiries from senior homeowners in their 60s and 70s who have seen their superannuation balances diminish or have been impacted by more cuts to interest rates and continue to struggle to service or pay out their debts.
“Using some of the equity in the home provides a way to meet living expenses or payout the mortgage, to achieve some peace of mind at this time.”
Homesafe Wealth Release is the popular alternative to a loan product or reverse mortgage for seniors. The homeowner agrees with Homesafe to sell a share of the future sale proceeds of their home in return for a lump sum payment today – there are no repayments, no capitalising interest charges and Homesafe only receives it share of the sale proceeds when the home is sold when the homeowner chooses, or after the death of the surviving homeowner. Homesafe is not entitled to receive any more than the agreed share and the homeowner is protected by rebates, if they sell earlier than anticipated by Homesafe.
“Homesafe has received a number of enquiries from customers and referral partners over the last few weeks, and we have been pleasantly surprised how successful the virtual approach has been for the business and our customers. We remain open for business and our team is here to help during these challenging times”, said Ms Shepherd.