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.
The Weekly SOURCE
Inside the latest numbers on Australia’s residential aged care sector
The Q4 Quarterly Financial Snapshot from the Department of Health, Disability and Ageing shows EBITDA fell $2.19 per resident per day (prpd) to $42.73 prpd in 2024-25, as 54.2% complied with both care minute targets, up from 40.5% at the same time the previous year.