The need for residential aged care is often sudden and decisions regarding how to fund a Refundable Accommodation Deposit (RAD) must be made with a sense of urgency. Such deposits may exceed $500,000. With our innovative Aged Care Loan product, you will rest at ease knowing that you will not have to rush to sell your property.
Funding a RAD
How to fund this payment is a complex problem for many families. La Trobe Financial offers a mortgage that can be used specifically to make this payment, reducing the stress for families at a very emotional time.
Our experienced team has developed a product that is easy for the customer and their family to set up, making the transition to aged care less complicated.
Please call our friendly team on 13 80 10.
Innovative Aged Care Loan
What differentiates La Trobe Financial to other lenders is our experience in this niche market.
- Loans of up to 50% of the property value available
- No capital repayments required during the term of loan
- No interest payments required until the total loan balance increases to 140% of the initial amount borrowed
- Available for a term of up to 7 years
- Can be set up under an appropriate Power of Attorney
- Flexibility to rent or sell the property without time pressure.