Reverse mortgages are increasing in popularity with many people releasing the equity in their homes for home renovations or for retirement. This increase in demand has prompted the Senior Australians Equity Release Association of Lenders (SEQUAL) to launch a professional development program to ensure planners are well-placed to advise clients.
The four-hour workshop will cover regulation and financial calculations, as well as developing alternative strategies for reverse mortgages. Participants can gain accreditation and may be listed as reverse mortgage consultant on the SEQUAL website.
"Care needs to be taken when advising clients on these products, so its vital advisers can access the right training and support to maximise their clients' outcomes," FPA chief executive Jo-Anne Bloch said.
According to SEQUAL chief executive Kevin Conlon, the courses will enable advisors to give the best expertise possible as more people choose to use the equity in their home for retirement.
Workshops will be offered nationally.
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