Homesafe/Nexus partner for equity release option
Seniors need the ability to access the equity tied up in their family home as another alternative to downsizing or borrowing against their house as they enter retirement, according to Homesafe Solutions.
Homesafe Solutions general manager, Dianne Shepherd, said the equity release had been brought about in line with the company’s agenda to support those in the transition to retirement phase.
The equity release solution would release some of the stored value in family homes to be used as a lump-sum to fund savings, super, and the financial gap left by retirement.
The approach to funding our retirement phase is undergoing immense change and keeping pace with consumer expectations and demands is going to be a real challenge, Shepherd said.
Organisations will need to focus on their core competencies in order to deliver.Nexus Mutual, which was established 48 years ago, has more than 6,000 members.
Chief executive, Ashley Hood, said the credit union remained focused on the improvement of financial wellbeing within its member base.
We need to be relevant to them – build trust by understanding their needs and aspirations, tailor the right solutions for them, he said. Our partnership with Homesafe reflects our commitment to provide members with access to products and services that reflect their needs and aspirations as they evolve.
AUTHOR
Hope William-Smith
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