By releasing some of the stored value in the family home, Homesafe’s Wealth Release solution provides seniors with a lump-sum they can use to fund a savings or superannuation financial gap.
The partnership will now enable the 6,000 members of the newly-rebranded credit union to access the Homesafe Wealth Release product and service model.
Homesafe’s general manager, Dianne Shepherd, commented: “The partnership with Nexus Mutual will provide the credit union’s members, and their families, with an attractive alternative to downsizing or borrowing against their homes, in retirement”.
Nexus Mutual CEO Ashley Hood added: “We want to be the banking partner of choice for our members and to deliver on that, we need to be relevant to them – build trust by understanding their needs and aspirations, tailor the right solutions for them and provide an exceptional customer experience.
“Our partnership with Homesafe reflects our commitment to provide members with access to products and services that reflect their needs and aspirations as they evolve.”
Headquartered in Melbourne, Nexus Mutual also has branches in Southbank and Sale.
[Related: Only 11% would sell home to fund retirement]
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Annie Kane is the editor of The Adviser and Mortgage Business.
As well as writing about the Australian broking industry, the mortgage market, financial regulation, fintechs and the wider lending landscape – Annie is also the host of the Elite Broker and In Focus podcasts and The Adviser Live webcasts.