Reverse mortgages

Are you asset "rich" and "cash" poor? Is your pension cheque now so small that you find you are living from "cheque to cheque"? Do you have trouble putting a little away to cover the Council rates or pay for some unexpected costs such as a new fridge or maybe just enough so you can carry out urgent repairs to your home? Maybe you would just like to have an extra $200 a week, so that you can spend as you wish ?
If this is a big "yes" then you should consider a First Fidelity Sunset Mortgage.

A "What"?.

A Sunset mortgage is a "Reverse Mortgage" unlike a conventional mortgage, where you have to make regular monthly mortgage payments.With a First Fidelity Sunset Mortgage there are

- No monthly payments.
- You pay no tax on the extra $200 per week
- Your pension and Medical benefits will not be affected.
- You retain title to your home as you always have.
- The loan is not repaid until you pass away

Should you wish to learn more about a First Fidelity Sunset Mortgage contact us using this form, and we would be glad to explain how a Sunset Mortgage works and how it can benefit you.
You paid for your home........ Now let it pay you!!!

We will show you how you can have an $800.00 cheque paid into your bank account every month for ten years, or until you move from your home to a nursing home or pass on.

There is no catch, the money you receive each month plus interest will be paid when you leave from the sale of your home. In most cases based on home values over the last 20 years, the amount you have to repay will be around the capital gains on the home during the loan period. Your estate will in most cases be paid the current value of your home. In the rare event that your home does not appreciate in value during the loan period, the net proceeds from the sale of your home is all that your estate in responsible for.
We look forward to your phone cal.

You have to be over 65 years of age, the house must be owned by you and there must be no debt owing on the home. First Fidelity Funds will require a registered interest on the home and you must pay all rates, taxes and upkeep on the home. The money you receive does not effect your pension as they are borrowed funds.

You can choose .
1) A lump sum payment.
2) A monthly payment.
3) A line of credit

The interest can be charged monthly, half yearly or annually. Interest rates will vary on the method you select.

You must be over 65 years old.
A valuation will be required on the home.
You can borrow up to 50% of the valuation.
You must seek an independent adviser's opinion.
A establishment fee will be charged.

Have some questions? Need some clarification?, ask us here

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