PPRuNe Forums - View Single Post - War in Australia (any Oz Politics): the Original
Old 4th Apr 2015, 08:49
  #16927 (permalink)  
Nemo Me Impune Lacessit
Join Date: Jun 2004
Location: Derbyshire, England.
Posts: 4,061
I went into one of these 'online' calculators for reverse mortgages and discovered that if I borrowed a fairly modest amount of around $250K after eleven years I wouldn't own a single bloody brick!

Bank of Bendigo operate a better system in some areas. You tell them how much of the value of your property you want to liquidate, they value the property and arrive at a percentage figure that they will take from the final value of the property after the last joint owner dies or the property is sold, no interest paid, the only losers are any relatives that thought they might be up for a big payout! Tough.
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