n Personal Finance Newsletter - Financing your retirement through your property : retirement
|Article Title||Financing your retirement through your property : retirement|
|© Publisher:||Moneyweb (Pty) Ltd|
|Journal||Personal Finance Newsletter|
|Publication Date||Oct 2006|
Extracted from text ... 6 October 2006 Moneyweb's PERSONAL FINANCE RETIREMENT KNOWN as the "reverse mortgage" or "equity release" concept in the UK and US respectively, Nedbank's Home Income Plan now allows retired individuals to release the value in their properties. Up to 45% of the property value can be borrowed against, with a minimum loan value of R250 000. The money can either be taken as a lump sum, or in monthly draw-down amounts. Financing your retirement through your property Homeowners over the age of 65 can now access finance through the equity that is normally locked-in to the value of their ..
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