Power and Gas Price Increases Placing a Strain on Pensioners

Written By Sharon Yardley

11 July 2017

The Finkel Report has again thrown the energy sector into the news spotlight, including the affordability of gas and electricity in Australia. Energy bills often make up a large portion of pensioners living expenses.  In some States, these costs have doubled in the past seven years, and unfortunately this trend appears set to continue in most states, with the Australian Energy Markets Commission (AEMC) projecting an average increase of $78 by 2018 in the five eastern states and ACT.

Take the worry out of bills, rates and insurance

Here at Heartland Seniors Finance, we have found many customers use a reverse mortgage to release some of the equity in their home to help take the stress out of everyday bills and that even a modest loan amount can transform their quality of retirement.

Use the funds as and when you need them

Everyone’s finances are different, and because of this our reverse mortgage has three flexible options which can be used in combination. This ensures that you can access the funds as an when you need them in a tailored way which is best for you:

  • As a lump sum - to fund home improvements or a new car;
  • A Regular Advance - for every day bills and help around the home; and
  • A Cash Reserve Facility for future needs or unforeseen expenses such as medical expenses, car repairs, or aged care.

 

Here at Heartland, we are proud to have helped thousands of seniors enjoy the retirement they deserve with independence and dignity with our reverse mortgage. If you would like to discuss how a reverse mortgage works, or how it could help you to relieve financial pressure, please feel free to contact our friendly team on 1300 889 338 or enquiries@seniorsfinance.com.au. We are here to help you.

 

 

*Image Source: 2016 Residential Electricity Price Trends pg. xii