Welcome

MONEY for SENIORS  is a Mortgage Broking Business based in Melbourne, Victoria. We specialise in assisting seniors to access funds for a better lifestyle. Established by Michael W Flynn in May 2000 as a Retirement Village Consultancy, before branching into Mortgage Broking in 2003.

Michael spent 30 years with A V Jennings, in the development of Industrial, Resort, and Retirement Village projects. He was involved in all aspects of Retirement Village development, operation and financial structures. He served for many years on the Board of the Retirement Village Association of Victoria. During the latter part of his period with Jennings he served for five years as an Honorary Director for a Non-Profit Aged Care Provider which operates Self-care Units, Hostels, and Nursing Homes. 

Through his understanding of the financial outcomes for seniors in Retirement Villages and Aged Care, Michael realised that the relatively new product called a Reverse Mortgage, also known as an Equity Release Loan, opened up many more options for seniors.

For any senior homeowner who is considering the sale of their home to buy a strata unit, retirement village unit, or to free-up capital, thought should also be given to an Equity Release product.

Equity Release Loan may be used for any purpose. The following are just some of the reasons that seniors have taken out an Equity Release Loans.

• Refurbish the family home.
• Purchase a new motor vehicle.
• Pay for an overseas trip.
• Assist a family member.
• Create a regular additional cash flow to support lifestyle.
• Pre-pay funeral expenses.
• Raise an Accommodation Bond for self or a Partner.

Equity Release loans should be entered into with full knowledge and caution. Equity release products have only gained real momentum over the past decade. In that time there has been a number of bodies set up, and initiatives adopted, to ensure there is a strong consumer protection focus by those dealing with borrowers.

MONEY for SENIORS maintains the following memberships:

• Mortgage Finance Association of Australia ( MFAA )
• Credit Ombudsman Service Limited ( COSL )
• National Brokers Group

MONEY for SENIORS is accredited with:

• Senior Australians Equity Release Association of Lenders SEQUAL, a body promoting best practice in this market.
• All on our panel of Lenders that offer Reverse Mortgages are members of SEQUAL.

MONEY for SENIORS is mindful of its obligation to ensure that Equity Release clients fully understand the type of loan they are entering, and has adopted processes recommended:

• MFAA’s Equity Release Code of Proper Conduct.
• CPA Guidance Notes for advising on Reverse Mortgages.
• Safe Home Income Plan’s 10-point advisers guide to equity release.

MONEY for SENIORS also encourages prospective borrowers to consider advice offered on the following web sites:

• Consumer Affairs Victoria www.consumer.vic.gov.au Credit & Debt > Forms & Publications - for a Fact Sheet on Reverse Mortgages.
• Australian Securities and Investment Commission, which contains a Reverse Mortgage Calculator. www.fido.asic.gov.au ( go to Calculators )
• Click here to see a chart which will show the additional years of life expected for people in the age range of 60 to 90 yrs.

Obligation free discussion Call or SMS Michael on Mobile 0409 200 342 to arrange for him to ring you or visit at a convenient time to discuss Seniors Equity Loans and whether they may suit your circumstances. Alternatively, fill in some basic details on our contact page, and we will reply to you promptly.

MONEY for SENIORS supports The School of St Jude in Tanzania.   All loans generated through this website produce $100 donation to the School.

Disclaimer:

The information on this website is for general information purposes only. It is not intended as financial or investment advice and should not be construed or relied on as such. Before making any commitment of a financial nature you should seek advice from a qualified financial adviser. No material contained within this website should be construed or relied upon as providing recommendations in relation to any financial product.