Reverse Mortgage FAQs
We've collated the questions – and answers – most often asked by our customers. The following FAQs cover a range of topics: how a reverse mortgage works, elibility requirements, the relevant consumer protections, what a reverse mortgage costs and more!
Understanding reverse mortgages
The mechanics of a reverse mortgage
A reverse mortgage enables you to retain 100% ownership of your home and enjoy the security of guaranteed lifetime occupancy. Importantly, you have no obligation to make regular repayments until you decide to move or sell.
A reverse mortgage enables Australian homeowners aged 60+ access the equity built up in their homes.
Eligibility and borrowing
A combination of your age and property value determine how much money can be accessed. You have the flexibility to receive funds as a regular income stream, a lump sum payment – or both.
Lower rates and costs help preserve more of your home's value
Understanding rates and costs
Higher rates, higher security. You trade a slightly higher interest rate for total peace of mind: no monthly repayments are required and your home stays yours, guaranteed.
Control, comfort and confidence in retirement
We want to empower you with flexibility and choice, to give you the confidence to meet your own needs with your own wealth over the long term. We’ve helped thousands of Australians live a more comfortable retirement in the home they love.