‘A Current Affair’ has aired a story about home equity release programs. This story includes content about Homesafe Wealth Release but does not fairly or accurately reflect the way in which Homesafe operates, or our track record over 20 years of supporting thousands of older Australians to fund a more comfortable retirement.

Homesafe exists because of the limited access many older Australians have to their housing wealth. The family home often represents their largest store of wealth, yet that wealth is often inaccessible. Homesafe bridges this gap by providing a responsible, transparent and debt-free solution to release home equity, while ensuring homeowners stay in complete control of when they choose to sell their home.

As our customers are aware, Homesafe completes an extensive and transparent process before each contract is signed, and funds are released to a homeowner. This includes:

• The transparent and full disclosure of all terms within each property contract. All documents provided to a prospective customer at the time of enquiry, and the contract, which is signed by the homeowner, include the agreed maximum capped percentage of future sale proceeds sold by the customer, stated clearly in the contract.

• Working closely with homeowners to ensure a detailed understanding of the contract. Every customer is required to engage a legal representative, who is arm’s length, and provides a legal advice statutory declaration confirming the homeowners have received independent advice, before a contract can be finalised.

• Homesafe actively encourages all homeowners to have family members, or a support person, to attend the meetings with Homesafe.

• Homesafe confirms, in writing, with each customer their estate planning arrangements, including details of their Executor to their Wills, and that they have been made aware of the contract terms.

A Current Affair spoke with two family members of deceased Homesafe customers – homeowners who enquired with Homesafe around 17 years ago. Whilst we empathise with these individuals as family members who were not involved in their parent’s interactions with Homesafe, we stand by the fair and transparent manner in which we acted to support their parents. As Homesafe confirmed to A Current Affair, in both instances these customers each had a chosen family member or friend involved in the process of their enquiry. They also engaged independent legal representation to act in their best interests.

Prior to any agreement being finalised or funds released to the homeowners, Homesafe also received written confirmation from the legal representatives of the customers confirming they had received independent advice, understood the contract and terms being provided, and that they wished to proceed. In addition, Homesafe maintained regular contact with these customers since their respective enquiries were received in 2008, until they passed away or sold their homes.

We also confirm that the percentage of sale proceeds received by Homesafe was misrepresented on the program. The actual sales percentage and proceeds received by Homesafe was significantly less due to our Early Sale Rebate, which is an important part of the Homesafe contract. Every customer is provided with detailed information on the Early Sale Rebate which states that while Homesafe acquires a maximum percentage, depending on when the home is sold and for what value, Homesafe may receive less than the sold share. Information regarding the Early Sale Rebate is available on our website here https://www.homesafe.com.au/rebates .

Viewers also had the opportunity to hear from Homesafe customer Linda. Linda is an actual customer of Homesafe who spoke about her positive experience and the extensive nature of Homesafe’s process. Hear her story below.

Linda is one of thousands of happy Homesafe customers. You can hear their stories here https://www.homesafe.com.au/testimonials.

As Homesafe outlined to A Current Affair, the company operates with a values-led approach of respect and empathy. Homesafe has consistently provided comprehensive information to new customers with an empathetic understanding of their personal circumstances. If you are interested in learning more about the Homesafe process, this is outlined in further details at the following page https://www.homesafe.com.au/what-is-the-process-for-a-customer.