Turn your bricks and mortar into the cash you need

Enhance your lifestyle without having to sell your greatest asset – your home!

An ASF Lifetime Loan offers peace of mind because it allows you to use the equity in your home to enhance your lifestyle while not adding to your worries about money.

An ASF Lifetime Loan is a mortgage that unlocks some of the accumulated wealth in your property and lets you remain in your own home and retain title over your property. It is a loan without regular repayments of either interest or capital during the course of the loan.

Click the following link to find out how much you can borrow:

ASF Lifetime Loan Calculator

How does an ASF Lifetime Loan work?

It’s simple. If you are over 60 years (or if a couple, one of you is over 60 and the other over 55) and you own your home, an ASF Lifetime Loan allows you to borrow up to 50% of the confirmed valuation of your property to a maximum amount of $250,000.00. And you can use the loan to fund anything you want, for instance:

• home renovations and maintenance
• health care
• debt reduction
• a new car
• pay out an existing mortgage
• a holiday.

You can choose to make payments on the loan; otherwise, there is nothing to pay until you sell your home, or your estate is wound up.

An ASF Lifetime Loan also includes a ‘no negative equity’ guarantee and ‘equity protection’ options so that your total repayments never exceed the value of your property.

How do I apply for an ASF Lifetime Loan?

Visit your local BCU branch or call BCU on 1300 228 228.

IMPORTANT NOTICE: This information has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on this information, consider the appropriateness of the information having regard to their individual objectives, financial situation and needs and, if necessary, seek appropriate professional, financial and taxation advice.

The ASF Lifetime Loan is a reverse mortgage product issued by a member of the Australian Seniors Finance Ltd group of companies. The ASF group of companies is not related to Bananacoast Community Credit Union. Bananacoast Community Credit Union is only a promoter and distributor of the ASF Lifetime Loan. Successful applicants will not be entering into any agreement with Bananacoast Community Credit Union.

Applications for Lifetime Loans are subject to Australian Seniors Finance Limited’s normal loan approval. Full terms and conditions will be included in any loan offer. Fees and charges are payable. Australian Seniors Finance Limited ACN: 108 875 636.