What is Homesafe?
Many Australians find themselves spending most of their working life paying off their family home could be considered as asset rich and cash poor and may want to access the wealth locked in their home. This is where Homesafe can assist without going into debt and taking out a loan to survive financially.
If eligible you receive a lump sum cash amount up front in return for selling Homesafe an agreed share of the future sale proceeds of your home. It is therefor entitled to the agreed percentage of the future sale proceeds of your home.
You remain on the title as the owner and the right to 100% use of your home for as long as you wish. Homesafe does not buy your property, you have complete control over your home and the percentage of the sale proceeds sold to Homesafe can never increase beyond the agreed share.
Who is eligible for Homesafe?
- Homeowners who are aged 60 plus and where the property is the principal place of residence for a least one homeowner at the time of exchange of contracts.
- The land value of the property is 60% or greater of the total market value of the home as determined by and independent Homesafe valuer.
- Homeowners with no debt on their title or where all existing mortgages can be discharged before, or at the time Home-safe contracts with homeowners.
- The property is the principal place of residence for at least one homeowner at the time of exchange of contracts.
* Given the nature of the Homesafe transaction, terms, conditions and additional eligibility criteria must be met before Homesafe can transact with Customers.