Spiralling house prices are fuelling rising levels of elder abuse in Australia: Dr Graham Hill
Dr Graham Hill explains that growing numbers of older people are being pressured by adult children to guarantee enormous loans. Legal aid commissions regularly deal with elderly parents who have gone guarantor without understanding they will be legally liable for the debt if the borrower defaults.
He points out that this problem will only worsen unless we require lenders to ensure older Australians have independent legal and financial advice before these individuals offer their home to secure a loan or agree to be guarantor. He also suggests there should be a "cooling off" period within which guarantors can withdraw from the arrangement.
Dr Hill expresses concern that the pressure on older people can be immense as adult children sometimes deny access to grandchildren if an elderly parent does not agree to be a guarantor or provide funds for a home deposit.
He also says the boom in property prices has resulted in a spike in the numbers of adult children taking over an elderly parent's home and refusing to move out.
He emphasizes that legal assistance is vital to empower vulnerable older Australians and to reduce elder abuse.
Dr Graham Hill is the chairman of National Legal Aid, the peak body representing legal aid commissions in all states and territories.
