That is absolutely correct. Different banks have different policies for borrowers that are nearing retirement age.
For borrowers who are 55 years old, almost all lenders require:
- A written exit strategy.
- Evidence of your superannuation balance.
- Other assets that can be sold to repay the proposed debt as part of your exit strategy.
Give us a call on 1300 889 743 or fill in our free assessment form to find out if you qualify for a loan.
Cheers,