There’s nothing new about this practice which just means that instead of raising a mortgage on a property that you are buying in order to pay the seller, you get the money by raising it on a property that you already own unencumbered.

People starting or expanding businesses have often done this as home loan interest rates are much more favourable than other loan forms.  Here, however, the targets are retirees who are asset rich from their property(ies), but cash poor.

If you’ve not visited it, the Support Hub entrance is in the north-east corner of the Mahara Place quadrangle.