Senior citizens stamp duty break
Monday, August 23rd, 2010Homesafe Solutions has welcomed the stamp duty relief for seniors announced as part of the NSW Budget.
The equity release provider described it as an innovative public-policy response to the challenge posed by an ageing population. Peter Szabo, managing director of Homesafe, said: “Retirees should be aware that equity release products can provide them with the financial means to maintain their independence and current lifestyle, without the need to downsize their home. Many seniors have inadequate retirement savings to enable them to enjoy quality of life during their retirement. Equity release products provide a valuable alternative to selling off the family home while providing retirement income.”

