Tailored Solutions for Your Tomorrow

The Third Dimension!

MEET YOUR FINANCE LADY

Carol Russell

The seasoned professional behind our team at Your Finance Lady.

With the last 20 years as a Mortgage & Finance broker...

…and many years prior to that as a Senior Financial Adviser in the banking world Carol offers personalised expertise to structure home loans, navigate investments, and provide strategic financial solutions to you as you reach your senior years  so you can remain in the home you love, with a decent income and fund available for all those other things in life you deserve. 

If you’ve worked hard all your life...

…and paid off/almost paid off your home and are now thinking about retiring, but are worried how you will manage financially, an obligation free discussion around how you can have the end of life lifestyle you’ve dreamed of can make it all come true… speak to us about an Equity Release Home Loan (Reverse Mortgage).

Unlock your Financial Potential in your Senior Years.

Next Stages of Life planning

As an ex Financial Adviser for many years in the banking system prior to the last 18 years as a Mortgage Broker,  Carol has met with probably thousands of people and can discuss with you various aspects of your Financial Life Plan, if you have one, and if not help you organise yourselves so all boxes are ticked….  and in need, refer you to professionals eg a solicitor for your Estate planning, a Financial Adviser for an overview of your Super fund investments and perhaps questions about your Aged Pension,  Life Insurances, End of Life planning including an Advanced Care Directive and much more.   Also including a specialist to assist you with applying for the Aged Pension, Commonwealth Health card

I can connect you also with a Specialist who can advise on many other areas of your aged care journey,  ie how to find the most suitable Residential Care facility for your situation.

We all have had advice in various aspects of our lives,  this service brings it all together in one 2 hour conversation to ensure there are no gaps in your end of life planning.

Reverse Mortgage/ Home Equity Release loans

If financing your retirement years is of concern……What can releasing equity in your home mean to you?
  • If you are finding the rising Cost of Living impacting your lifestyle right now and need more dollars to pay the bills that keep on coming in? A regular non taxable income can be drawn.
  • Is your super balance diminishing and you are worried about what will happen when all existing funds have gone? A lump sum can also be approved and drawn on only when needed.
  • Are you struggling with a Home Loan that is still to be paid out, and really want to/need to retire for some reason ie made redundant?  Maybe your bank is putting pressure on if you are behind in payments.
  • Are you thinking you will need to downsize (can no longer pay the mortgage) but don’t really want to because you know how expensive/disruptive moving can be. After all this is your beloved family home of many years.
  • Are your credit cards getting out of hand or overdue? Lender unsympathetic.
  • Do you need a new car? Way overdue.  A holiday?
  • Need to renovate the bathroom/the home, to make it safer now you are older?
  • Thinking you need to look at finding money for a Residential Accommodation Deposit so you/partner can go into care.
  • A multitude of other needs you may have.
  • You just would be more comfortable knowing you had access to cash for unexpected costs. eg. Medical treatments. 
You’ve heard about the bad things that people tell you about releasing equity in the home, now let me state the true facts to put you and your Family’s mind at rest.
  • A No-Negative Equity Guarantee is in place by LAW to protect you. You or your estate can never owe more than the property is worth. Should property values drop dramatically the lender must absorb the loss, not you.
  • You benefit from rising property prices ie minimises the effects of the loan.   MoneySmart calculations provided.
  • You always remain the 100% owner of the home and the title always remain in your name. This gives you 100% exposure to any growth in the value of the property.
  • The No Negative Equity Guarantee rules ensures you and your family (Protected Inhabitants) remain in the home as long as you wish.
  • The loan needs to be paid out at your /your partners death, which ever occurs last….however property can be sold, or family members can refinance the loan and own the home themselves.
  • Regular repayments are not required, but can be made if you wish to minimise the effects of compounding interest. You will be provided with a MoneySmart Calculator which will give you an indication of the effects of the loan in 5, 10 and 15 years so you make an informed decision.
  • Minimal requirements to comply with the loan… ie always maintain the property in good order, pay rates/Strata and keep property insured (can be paid from released equity funds)
  • Regarding estate planning, Beneficiaries best be fully aware of your decisions in this regard and perhaps be involved in the decision making to avoid issues later.