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New Zealand’s specialists in Home Equity Release
By taking advantage of the equity in their home, more and more New Zealand seniors are finding that, not only can they meet the unexpected, unwelcome expenses that often accompany older age they can really make the most of life.
Sentinel is one of New Zealand’s specialists in Home Equity Release, and has helped thousands of New Zealand seniors with the Sentinel Lifetime Loan.
One of the benefits of the Sentinel Lifetime Loan is that there are no repayments required during the life of the loan. The loan is only repaid when you move permanently from your home – usually when you pass away or move into long term care.
People are eligible for the Sentinel Lifetime Loan after the age of 60, although some spouses aged over 55 may also be eligible. The percentage of the value of the home they can borrow is based on their age, starting at 15 percent of the value of your home at age 60, increasing by 1% each year to a maximum of 45% at age 90.
Some additional features of the Lifetime Loan are:
- You still own your home, and can stay there until you choose to move, pass away or go into permanent care
- You can elect to have an Equity Protect Option, guaranteeing a percentage of the value of your home for your estate
- There is a margin cap on the interest rate to protect you in the future
- A choice of fixed or floating interest rates
- There is a ‘no negative equity’ guarantee to protect your estate
Current News from Sentinel
David Russell joins the Sentinel Board
Sentinel is pleased to announce the appointment of consumer advocate, David Russell, to the Board of Sentinel. Sentinel is delighted that Mr Russell will be adding his wealth of consumer and business skills to the Sentinel mix.
The Sentinel Promise
Sentinel recognises the trust that those taking out a Sentinel Lifetime Loan have placed in them. In return, Sentinel makes the following promises:
- Promise One: There is no requirement to make any loan repayment until the end of the loan.
- Promise Two: Your home will remain the place you live in for as long as you choose. Our Loan Repayment Guarantee means the amount required to repay the loan will never exceed the net sale proceeds of the property.
- Promise Three: It is important that you are completely happy with all aspects of your Sentinel Lifetime Loan
To ensure this, your legal work must be carried out by the solicitor of your choice, who will represent only your interests and work with you to make sure everything has been fully explained and discussed.
Sentinel will always retain a separate legal representative.
Sentinel is one of New Zealand’s leading providers of home equity release loans.
Established in 2003 by the founders of the highly successful Sovereign Group, Sentinel management has a proven track record of financial industry experience. While there is no relation between the two companies, the same expertise and innovative thinking are integral to Sentinel.
Sentinel has developed strong associations with a number of leading New Zealand financial institutions, and is a founding member of SHERPA, the Safe Home Equity Release Plans Association.
For more information on the Sentinel Lifetime Loan please them on 0800 867 645.
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