Queensland Coastal Retirement Home for a Couple from Somerset
AUD 480,000 · 15 years · 6.20% fixed. A couple from Somerset were retiring to Queensland's Sunshine Coast to be near their adult children who had emigrated a decade earlier.
The Client
Retirees Relocating Overseas
The Challenge
A couple from Somerset were retiring to Queensland's Sunshine Coast to be near their adult children who had emigrated a decade earlier. They needed an Australian mortgage to bridge the gap between their Queensland property price and the net proceeds from their UK home sale.
Our Solution
Doulton placed a non-resident Australian mortgage ahead of the UK sale completing, allowing the Queensland purchase to proceed. On completion of the UK sale the mortgage was reduced by a lump sum payment, bringing it to the intended long-term level.
The Outcome
Retirement home in Noosa Heads purchased. UK property sold and lump sum paid. Couple now settled in Queensland with their family. Australian pension arrangements initiated. Key highlights: Non-resident mortgage pre-UK sale allowed Queensland purchase; Lump sum facility on UK completion reduced the loan; Full retirement relocation supported beyond the mortgage.