Your Questions, Answered.

A reverse mortgage lets you access some of your home’s value without selling it. Instead of making monthly repayments, the lender provides funds using the equity in your home while you continue living there. You remain the legal owner, and no regular repayments are required. Interest is added to the loan balance over time, and the amount is repaid when you sell your home or when your estate sells it later. It’s a practical way to unlock value from your home while staying in the place you love.

With a standard mortgage, you make repayments and reduce the balance over time. With a reverse mortgage, you don’t make repayments; the balance increases gradually as interest is added. A traditional home loan depends on your income and repayment ability, while a reverse mortgage focuses on your home’s value. It’s designed for Australians aged 60 and over who may have less income but more equity. You still own your home, and repayment only happens when you leave or sell.

Selling or downsizing can be an expensive and emotionally challenging process. It often means leaving familiar surroundings, family, and neighbours. A reverse mortgage helps you access some of your home’s value while staying right where you are. You avoid real estate costs and moving stress while freeing up funds for what matters, from essential repairs to everyday living. For many older Australians, it’s a simpler and more dignified alternative to downsizing.

Yes. Reverse mortgage loans have been available in Australia for decades and are regulated under the National Consumer Credit Protection Act. Thousands of retirees have used them to improve their quality of life. As awareness grows, more people are recognising them as a straightforward, structured way to access home equity later in life.

There’s no hidden catch; it’s just important to understand that interest is added to the loan over time. This means that your balance grows, while your available equity decreases. The key is to borrow carefully only what you need. You’ll still be responsible for maintaining your home and paying rates and insurance. When set up well, a reverse mortgage can provide financial freedom without unwanted surprises.

Yes. You stay the full legal owner, and your name remains on the property title. The mortgage acts as security for the loan. As long as you continue to meet your obligations, living in the home and maintaining it, you have the right to stay for life. When the house is sold, the loan is repaid from the proceeds. Until then, it remains yours.

Reverse mortgage loans in Australia are generally available to homeowners aged 60 or over. If you’re applying jointly, both borrowers usually need to meet the age requirement. You don’t have to be debt-free, but you’ll need enough equity in your home. Income and employment status aren’t deciding factors; even retirees on the Age Pension can qualify.

Not always. If you have a small remaining home loan, part of your reverse mortgage funds can be used to pay it off. This is a common reason people apply it, which removes monthly repayments and eases financial pressure in retirement. The new loan replaces the old one, leaving you with a single balance and, often, some funds remaining.

Most standard residential homes, townhouses, and units are eligible across metropolitan and regional Australia. The property should be well-maintained and marketable under normal conditions. Very remote properties, extensive rural holdings, or homes in high-risk areas may be subject to a special assessment.

Because there are no regular repayments, lenders focus more on your home equity than your income. Even with a modest pension or past credit issues, you may still qualify. The key is ensuring you can meet ownership costs such as insurance, rates, and maintenance.

Yes. Couples who jointly own their home can both be listed on the reverse mortgage. This ensures both borrowers have lifelong occupancy rights. The loan doesn’t need to be repaid until the last borrower permanently leaves the property.

No upper age limit applies. As long as you’re 60 or over and can understand the terms of the loan, you can apply. Health issues don’t disqualify you. Many people use reverse mortgage funds to cover medical expenses or make home modifications that support independent living.

The amount depends on your age and the value of your home. Generally, the older you are, the more you can access, starting from around 15–20% of your home’s value at age 60 and increasing gradually over time. The exact amount varies depending on the lender, property type, and valuation.

No. You can choose how to access your funds — as a lump sum, through smaller instalments, or as a cash reserve to draw on later. Any money left untouched won’t accrue interest until you use it.

You can use the funds however you choose, from home repairs and renovations to healthcare, debt repayment, or everyday expenses. Many retirees use it to enhance their lifestyle or support their family. Because the funds are borrowed money, not income, they’re tax-free.

Yes. If you initially borrow less than your maximum, you may be eligible to apply for additional funds later. Your eligibility will depend on factors such as your age, property value, and available equity at the time.

A reverse mortgage doesn’t count as income, so it won’t directly affect your Age Pension. However, if you hold unused funds in savings or investments, those may be counted in the assets test. Drawing smaller amounts as needed can help minimise any effect.

No regular repayments are required while you live in your home. Interest is added to your balance over time, and the total loan is repaid when the house is sold, or your estate settles it. You can make voluntary repayments at any time if you choose.

Interest compounds over time, meaning it’s added to your balance and then accrues further interest. We’ll provide you with clear projections before you proceed, so you can see how the balance may grow and how your equity is likely to change over time.

No. All reverse mortgage loans in Australia are protected by the “No Negative Equity Guarantee.” This means you or your estate will never owe more than the home’s eventual sale price, provided you meet loan conditions.

Yes. You can repay your loan in part or in full at any time. There are no penalties for repaying early under variable rates, and fees are clearly disclosed upfront.

Yes. You have lifetime occupancy rights, as long as the home remains your primary residence and you meet your responsibilities. Even if your loan balance eventually equals your home’s value, you can stay as long as you wish.

You’ll need to keep your home in good repair, pay rates and insurance, and live there as your primary residence. These are standard conditions and help protect both you and your property.

Yes. You can sell your home at any time. The loan balance is repaid from the sale proceeds, and any remaining funds are yours to keep.

Yes. Many people use reverse mortgage funds for home improvements, maintenance, or accessibility modifications. As long as the work maintains or adds value, you’re free to make changes.

Yes, although this depends on how much equity you use and the loan’s term. Many clients opt to borrow conservatively to preserve a portion of their estate. Home value growth over time may also offset the loan balance.

When you pass away, your estate typically sells the property to repay the loan. Any remaining funds belong to your beneficiaries. If your family wishes to keep the home, they can repay the loan using other funds.

Yes. Open communication helps everyone understand your goals and removes worry. Family members are often reassured once they understand that you remain the homeowner and that the loan is well-regulated and straightforward.

Start by checking your eligibility; it takes approximately 15 minutes. If you decide to proceed, we’ll organise a valuation, prepare your loan offer, and guide you through each step, including the independent legal advice required.

Yes. You must obtain independent legal advice before the loan can proceed. Financial advice isn’t mandatory, but it is recommended, especially if you want to understand how a reverse mortgage fits into your overall financial plans.

Most applications are completed within three to four weeks. You’ll always have time to review everything carefully before signing.

No. You can enquire or get an estimate with no cost and no obligation. You’re free to walk away at any time before signing.