HOME EQUITY LOANS – AUSTRALIA

Retirees urged to tap into home equity

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Original article by Sally Rose
The Australian Financial Review – Page: 17 : 13-Jul-16

AustralianSuper CEO Ian Silk says the superannuation fund may seek to offer a broader range of retirement income products in coming years. This could include home equity release products, which allow homeowners to capitalise on the value of their home without the risks associated with reverse mortgages. Silk concedes that there are significant problems with some retirement income products that are currently available, and says the industry must work hard to address the issue.

CORPORATES
AUSTRALIANSUPER PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Retired engineer calls Treasurer’s wealth idea crap

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Original article by Ben Potter
The Australian Financial Review – Page: 5 : 25-Sep-15

Older Australians own almost $A1bn worth of residential property assets. Treasurer Scott Morrison has proposed that they capitalise on this wealth by downsizing to a smaller home and using the proceeds to help finance their retirement. However, retired engineer Peter Walker argues that many retirees could not afford to buy a smaller home that is close to family and friends. Walker and his wife opted for a home equity loan rather than a reverse mortgage to provide them with a retirement income stream.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. PRODUCTIVITY COMMISSION, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, HOMESAFE SOLUTIONS PTY LTD