Fractional property investment company DomaCom (ASX:DCL) announces the receipt from ASIC of a decision in principle to approve the relief that will allow the delivery of its innovative Senior Equity Release (SER) product. The ASIC relief will pave the way for the introduction of a new suite of products by DomaCom focussed on the needs of ageing retirees to adequately fund their retirement. The relief will be subject to a number of conditions and requirements.
Subject to the formal ASIC relief being granted, the SER product is targeted to being launched in the first quarter of 2018 and will be an innovative mechanism for retired Australians to sell part of their home to help fund their retirement while continuing to live in their home. The ASIC decision is the culmination of a four and a half year process of engagement by DomaCom with the corporate regulator.
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