A reverse mortgage allows homeowners aged 60 and over to access the equity in their homes without selling. You can receive the funds as a lump sum, regular income, or a combination of both.
Homeowners 60+ unlock a portion of their home’s value based on age and property value.
Choose between a lump sum, regular payments, or both.
No payments are needed while you live in the home, interest is added to the loan.
The loan is repaid when you sell the home, move out, or pass away.
Reverse mortgages are an ideal option for retirees looking to supplement their income or cover unexpected expenses without the need to sell their home.
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A retired couple in Melbourne, Victoria used a reverse mortgage to refinance the mortgage worth $270,000 as well as access over $100,000 to improve their quality of life each month without having to sell their home.
A Melbourne homeowner secured a reverse mortgage for a steady income stream, enhancing her pension and allowing her to enjoy travel and a comfortable retirement.
Yes, you remain the owner of your home throughout the life of the reverse mortgage. The lender does not take ownership of your property; there is a loan against your home which is typically repaid from the sale proceeds when you sell the property, move into long term care or pass away.
You retain full control and ownership of the property as long as you live in it.
Yes. Whether it’s to cover medical bills, pay for home renovations, travel, or simply supplement your retirement income, there are many suitable purposes for a reverse mortgage.
Interest on a reverse mortgage accumulates over time and is added to the loan balance. The key advantage is that you don’t need to make any monthly payments. Instead, the interest capitalised into the total loan amount and is only due when the loan is repaid, usually when the home is sold or you move out permanently.
The amount of equity you can access depends on factors like your age, the value of your home, and current market conditions. Typically, the older you are, the more equity you can unlock.
We’ll work with you to determine the exact amount that suits your financial needs and goals.
Like any financial product, reverse mortgages come with considerations. One key factor is that the interest on your loan will accumulate over time, meaning the amount you owe increases. This can reduce the equity in your home, leaving less for your estate.
It’s also important to understand that if property values decline, your remaining equity may be less than expected. However, with the “no negative equity guarantee,” you won’t owe more than the value of your home when it’s sold.
We’ll walk you through all potential risks and benefits so you can make an informed decision.
Reverse mortgages in Australia come with a “no negative equity guarantee”, ensuring that neither you nor your estate will owe more than the eventual sale value of your home, even if the loan amount exceeds it. This means that any shortfall is covered by the lender, protecting your estate from any additional financial burden.
This safeguard provides peace of mind, ensuring that your home’s value covers the loan, no matter what happens to property prices.
Start planning for a secure, comfortable retirement today. Access your home's equity with confidence—our expert brokers are here to guide you.
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Simon O’Kelly (Credit Representative Number: 439252) and Ainslie Conheady (Credit Representative Number: 537417) are credit representatives of BLSSA Pty Ltd ACN 117 651 760 (Australian Credit Licence 391237. Copyright © 2025 – Credit Guide and Privacy Disclosure Statement & Consent: Simon O’Kelly, Ainslie Conheady. Website by nuvismedia
