Typical Uses

Some typical (and not-so-typical) uses for reverse mortgages are:

  • Property Maintenance (e.g. roof replacement, house painting)

  • Property Improvement (e.g. new kitchen / bathroom, easy access shower)

  • Improved Home Comfort (e.g. heat pump, insulation)

  • Property Purchase

  • Repay an existing mortgage (no more loan instalments)

  • Supplementing retirement income (extra income to make things easier)

     

  • Upgrade to a newer or more suitable / reliable vehicle

  • Overseas or Domestic Holiday

  • Purchase of a Motorhome or Caravan

  • Improved eyesight (cataract removal)

     

  • Private Heathcare (hip / knee replacement)

 

  • Home-based Carers (private arrangement)

  • Assist with the cost of Health Insurance premiums

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  • Gift / helping hand to family members (inheritance in advance)

  • Completion of vintage car restoration project

These are just some of the more common reasons people access a reverse mortgage. However, you can generally use the cash for whatever you want

Need more details? Contact us

We are here to assist. Contact us by phone or email.

Tel: 0800 698 463                Mob: 027 470 9990               Email: enquiries@seniorsolutions.co.nz