An understandable question I get asked from clients that are approaching retirement age is…”Can I still get a 30 year loan term?” The short answer is fortunately it is possible…BUT! Many banks will consider providing customers a loan term that goes past their retirement age. The key point is to have a exit or retirement plan. Great question to ask yourself is, “How will I pay this loan off after (say) 10 years?” There are many avenues that our clients have explored and these include but not limited to:-
- Funds in super
- Sale of an investment property
- Downsizing of home
- Income is more an enough to pay off the loan sooner and more.
So if you are approaching retirement but still wish to borrow for any purpose please do not hesitate to CONTACT US and we can discuss your eligibility.