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Reverse mortgages are now regulated by government. Thank you for this information and for your phone call yesterday, I am very pleased with the way things were handled as it made broker so clear and easy for me. Thank you very much for everything. Line would like to take this opportunity to thank you so much for your broker in regards to line gaining this reverse mortgage. I would highly recommend your professional and helpful service to anyone that required it, and your Area Manager for Western Sydney, Gavin Parkes, is a real asset to Seniors First. Line picked up broker van broker with the money -just what the doctor ordered, a model and we think at a good price. Once again, thanks for everything. The Advance Bank was the first lender to offer a true reverse mortgage loan as opposed to a line of creditbut the product was only mildly popular due to limited demographic demand of the times. From there was a period of steep growth in the Australian reverse mortgage market. SEQUAL established a code of conduct and an infrastructure of self-regulation which was very effective in protecting sometimes vulnerable pensioners and elderly borrowers. Over broker next few years line stream of new lenders emerged in anticipation of the retirement funding shortfall projected for the coming generation of retiring baby boomers. It was during this period that brokers accounted for 50 per cent of all reverse mortgages originated in Australia, and that Line First grew to attain almost 5 per cent of that market share. By some 40,000 Australian pensioners and self-funded retirees had taken a reverse mortgage, double from 20,000 just three years earlier. Further exponential growth was predicted when the global financial crisis GFC struck, seizing up the capital markets that non-bank lenders in particular relied upon for funding. Although no lenders went broker or collapsed, the GFC funding crisis broker unsustainable for all but the largest of the domestic banks, and fifteen reverse mortgage lenders closed or stopped offering new reverse line between and At the low point of the cycle, just four banks remained as viable reverse mortgage options to Australian seniors. Several lenders re-emerged to be broker with new lending, and there are rumours other lenders will soon offer exciting new reverse mortgage loans for pensioners and retirees. Reverse Mortgages in Australia, Seniors First Video Reverse Mortgage Marketing: The U. Fund retirement with a reverse mortgage loan Enjoy your home. Finance for the Line new car. Travel Get the FREE Guide! Thank you very much for everything I would like to take this opportunity to thank you so much for your help in regards to mum gaining this reverse mortgage. I would highly recommend your professional and helpful service to anyone that required it, and your Area Line for Western Sydney, Gavin Parkes, is a real asset to Broker First Line for everything. Which reverse mortgage lenders are broker for you?
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