SINGLE AGE PENSIONER PAYING MORTGAGE ON HOME

I am thankful for the $1400 single pensioners are to receive in December - that will definite help in the short term. We are all only too aware how we desperately need an increase of at least $30 per week.

Do you know if there are any plans to increase rent assistance?

I am classed as a home owner. Is there any provision for "home owners"
who still have a mortgage? On a single pension I am still trying to pay a mortgage, rates, home maintenance & insurance. Am thinking of selling my home and renting as at least then I would get rent assistance to help pay the rent. My mortgage repayments alone are as high as a rental property. My house will not bring a high price - country fibro cottage. Approximate sale price of maybe $150,000 less payout remaining mortgage and associated costs - not much left. What is left will need to be invested to help pay the rent, etc. As far as I am aware there is no government help such as rent assistance to help one keep on at home in these circumstance.

3 comments

Centrelink have advisors who can guide people in financial issues.

Maybe ring your local C'link office and make an appointment, as one suggestion.

He/She would certainly be able to answer your questions re assistance.

I have heard of smallish loans to pensioners which are then paid back through deductions of the pension, at a very small amount.

No you will not get assistance with paying off your own home--only with rates etc

I suppose depends on if you would be better off renting and if you would end up with more money in your pocket.

How difficult to reach Pension age and still have a mortgage. Quality of life at this age is the most important thing.

Not leaving debts behind, means a lot to most so it also depends on how long to finish the mortgage also.

All the best.

Phyl.

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