AFG Home Loans is excited to announce the recent launch of the first long-term interest-only product designed for Australians 50 and over. It's called Retro Thrive.
What is Retro Thrive?
- Retro Thrive is an innovative product designed to help mature-aged Australians 50 and over free up cash flow from their investment properties and help manage their finances approaching or in retirement.
- Thrive enables customers to choose an interest-only (IO) repayment schedule over a 40-year term without repeatedly applying for extensions, ultimately providing more options to hold these assets longer term into retirement.
- Thrive allows borrowers only to pay the interest charged on the loan amount, and the principal remains unchanged until it’s discharged upon selling the property or at the end of the loan term.
- Thrive borrowers can borrow up to a maximum of 65% of the value of their property or $2m (whichever is lower).
Retro Thrive – Key documents
For the latest Retro ratecard which includes Retro Thrive, visit Lenders.
Visit the Retro Thrive broker page for more information including customer eligibility.
Get in touch with your BRM today to discuss Retro Thrive in detail, or if you have a scenario, submit it to scenarios@afghomeloans.com.au