Australia offers the NDIS program, National Disability Insurance Scheme, to Australians living with a permanent or significant disability. Residents who are between the ages of seven and 65 qualify for the scheme. The parent of a child who acquired a significant disability qualifies on behalf of the child.
If you are living with a permanent or significant disability, it most likely impacts your ability to earn an income. If that’s the case, it also impacts your ability to pay monthly mortgage repayments, too. Our Mortgage House lending representatives can work with you if you became disabled after you purchased a home. We can also explore options for those who wish to become a homeowner.
Let’s look into the NDIS a little closer.
What is the NDIS?
An estimated 500,000 million will receive funding from the scheme in the next five years. Additionally, an estimated 4.3 million Australians live with a disability. The program’s goal is to connect recipients with community services. The funds cover expenses for daily personal activities, transportation, and home modification projects.
NDIS and Homeownership
The scheme is still undergoing upgrades. It covers expenses for home modification design and construction, which makes this relevant to the real estate and lending sectors. The program works in conjunction with other government services. If your ability to pay off your mortgage becomes a challenge, we can explore options with you. We also take a look at funding options for those who are working toward homeownership. Thanks to our innovative and forward-thinking mindset, we can find home loans that adapt to most applicant’s circumstances and financial situations.
NDIS Conclusion
A permanent or significant disability poses a challenge. There are ways to overcome them with a little bit of aid. We take a look at your homeownership and financial status. Our goal is to help you remain in a home. We can also help you finance the modification and construction projects with reasonable home loan rates. For more information, contact our Mortgage House team and schedule an appointment.
