Welcome to Land Lease Home Loans
We are the only financier in the market who can provide a loan secured by your home in a land lease community.
Land Lease Home Loans was formed to give residents and prospective residents of a land lease community or manufactured home estate (MHE) with similar financing opportunities that are available to traditional house and land homeowners.
We support the view recently expressed in the government’s Retirement Income Review report that “owning a home has a positive influence on a person’s standard of living in retirement”, and that “accessing equity in the home can significantly boost retirement incomes without the need for additional contributions”.
At Land Lease Home Loans we may be able to assist with the purchase of a home as you transition from full time to part time and ultimately retirement, and be there for you again should you wish to draw on some of the equity in your land lease home.
Boosting Australia’s land lease home ownership
A land lease home loan may enable you to enter a land lease community sooner, or provide an additional income stream to transform your retirement.
Let’s get started on giving you a new lease on life - what would you like more information about?
Are you over 65, own your land lease home and interested in accessing your home’s equity to top up your income or take a small lump sum?
We are proud to have launched with Ingenia Lifestyle. This is the first time this option has ever been available and may enable you to make your move sooner, or consider additional features in the home you are looking to buy.
Why choose a Lifestyle loan?
A Lifestyle loan can be used to purchase a land lease home or use the equity in your existing home to transform your retirement with a new car, renovation or income top-up.
We provide loans that are secured by an Ingenia Lifestyle home. We are working to bring on more communities and encourage you to call to register your interest or speak with your community manager.
Your customer experience manager will be with you throughout, from initial contact and application to settlement, and welcomes a call from you.
We invest the time with you to structure a loan to suit your needs and objectives.
Conditional pre-approval provided within 2 business days so that you can put down a deposit and secure your home with confidence or provide you with peace of mind for an income top-up if you already own your home.
We offer competitive interest rates starting from 4.95% p.a. with no exit fees or other penalties on repayment.
Applying for your ‘new lease on life’ loan
Your Land Lease Home Loans Specialist will have a discussion with you about your requirements and objectives, along with gaining an overview of your financial situation (assets & liabilities, income & expenses) to determine whether we can provide you with pre-approval (also known as conditional approval) for a loan with Land Lease Home Loans.
Next, your Land Lease Home Loans Specialist will assist you through the formal loan application process, ensuring we clearly understand your requirements and objectives (including meeting possible future needs if you're applying for a Lifestyle CAPITAL land lease home loan), financial position and your ability to service a loan (if principal and/ or interest applies) and that the loan is not unsuitable.
At this time we will verify the information provided and make further enquiries if required.
Then, your loan application is assessed, and subject to our lending criteria, your loan is moved to approved status.
Your loan documentation is issued, reviewed and signed by all parties, before we proceed to loan settlement and transfer your funds as specified.
Important information: At this time we will register a security interest on your home, which will be listed on the Personal Property Search Register (PPSR) under LLHL Mortgages Pty Ltd. We recommend you do an online search on the PPSR to find out if the land lease home has a security interest against it. If it does, it may mean the home has money owing on it, which will need to be repaid by the current owner prior to your settlement on the home.
Once your loan has settled, we’ll be by your side to answer any queries. We will even give you a call annually for a 15-minute Home Loan Check-In chat to see if we help you find ways to fine-tune your home loan so it continues to suit your needs. You will also have access to your loan details available 24/7 via the secure online customer portal.
Built on doing the right thing by our customers
If we assess that you cannot afford to repay principal and interest over the term of the loan or, the loan is not suitable for you, given your circumstances, we will not offer you a loan. We will be upfront and transparent with you.
However, we know unforeseen events can interrupt your ability to make repayments, should that occur, we’ll work with you to get you back on track.
If we cannot resolve an issue to your satisfaction, you can lodge a complaint with the Australian Financial Complaints Authority (AFCA). The AFCA provides fair and independent financial services complaint resolution that is free to consumers. You can find more information here.
Source: Downsizing 10th November 2021
Whether it’s due to COVID-19, spiralling home prices, remote working or large life-long mortgages, Australians are increasingly seeking out new downsizing options.
Source: Downsizing 6th September 2021
Land lease communities booming in COVID-19 era: report
Source: The Senior 2nd September 2021
Greater choice when it comes to 'rightsizing' your lifestyle
IMPORTANT NOTICE: This information has been prepared without taking account of the needs, objectives, or financial situation of any particular individual. Applicants should consider their own circumstances and, if necessary, seek professional advice. Applications are subject to loan approval criteria. Terms, conditions, fees and charges apply.
Land Lease Home Loans Pty Ltd ACN 642 684 053 is a Credit Representative 527929 of Mortgage Direct Pty Ltd ACN 075 721 434 Australian Credit Licence 391876.