The over 60s will be able to fund a move into a retirement village or cover the cost of aged care with a reverse mortgage. ABN Ambro has launched two reverse mortgage products, to be sold by financial planners, designed for seniors to be able to access more than the standard loan to value ratio (LVR). Of particular interest to the village manager is the Investment Property Mortgage (IMP), where clients can borrow an unlimited amount from a minimum of $10,000 against the value of an investment property to buy into a village. It allows retirees the flexibility to transition into a retirement village lifestyle while maintaining a revenue stream from their investment the best of both worlds.
Mergers & Acquisitions
Brookfield sells retirement village operator Aveo for $3.85B
Brookfield Asset Management, a leading global alternative asset manager headquartered in New York with over US$1 trillion of assets under management, has agreed to sell its retirement living platform, Aveo, to The Living Company for A$3.85 billion...
