Here are a few key lending considerations we help you navigate:
💰 Using Sale Proceeds Strategically
One of the biggest advantages of downsizing is unlocking the equity in your current home. Many downsizers use the proceeds from their sale to purchase their next property outright, eliminating the need for a mortgage altogether. Others choose to reduce their loan size significantly, which can lower repayments and free up funds for travel, hobbies, or helping family.
🔄 Reverse Mortgages (For Eligible Borrowers)
For those who want to stay in their home but access some of its value, a reverse mortgage may be an option. This type of loan allows eligible borrowers, typically older Australians, to draw on their home’s equity without selling. Repayments are usually deferred until the property is sold or the borrower moves out, making it a flexible solution for retirees.
📄 Low-Doc Loans for Retirees
If you're retired or have a reduced income, traditional lending criteria may not apply. Low-documentation loans are designed for borrowers who may not have regular pay slips but can demonstrate financial stability through other means, such as superannuation, investment income, or pension payments. These loans can be a practical solution for those looking to borrow modest amounts or top up existing funds.
Downsizing isn’t just about moving into a smaller space; it’s about creating a lifestyle that suits your current needs and future goals. Whether you're relocating to a low-maintenance apartment, a coastal cottage, or a quiet country retreat, we’re here to help you make the transition smooth, informed, and financially smart.