Homesafe Solutions has welcomed the Victorian Government and Federal Treasurer’s support of shared ownership models as a possible solution for new and existing homeowners.
The equity release firm said providing funding alternatives for senior homeowners to “age in place” was an example of the need to develop versatile solutions to address the complex array of financial difficulties and issues across the country.
Homesafe general manager, Dianne Shepherd said: “Homesafe believes that senior homeowners, who are often ‘asset rich, cash poor’, should have access to products which enable them to access the wealth tied up in their home, when they need it the most and with the security of protecting their rights to live in their home”.
“It is inevitable that equity release/shared ownership will continue to grow in popularity as more and more consumers reach out to the private sector for solutions that allow them to access the untapped equity in assets such as the family home,” she said.
Shepherd said Homesafe provided seniors access to untapped funds in the family home with the versatility to apply the funds as they wished, that there were no repayments or compounding interest, and the homeowner had the right to remain in their home until they chose to sell.
