INTEREST RATE

INTEREST RATE

 COMPARISON RATE

COMPARISON RATE

STANDARD VARIABLE REVERSE MORTGAGE¹

  • Conditions, fess & charges apply

 INTEREST RATE

INTEREST RATE

 COMPARISON RATE

COMPARISON RATE

AGED CARE OPTION²

  • Conditions, fees & charges apply

A reverse mortgage allows you to borrow money using the equity in your home as security. The loan may be taken as a lump sum, an income stream, a line of credit or a combination of these options.Interest is charged like any other loan, but you usually don’t need to make repayments while you live in your home. The loan must be  repaid in full if you sell your home or die or, in most cases, if you move into aged care. Typically, you are charged a higher interest rate on a reverse mortgage than for a standard home loan. Reverse mortgages are very flexible and can be used for any  worthwhile purpose for example - home improvements, travel &  holidays, to purchase a new car, debt consolidation, medical expenses & aged care or extra cash-flow in retirement (for bills or living costs). Not for everyone; they are still a complex mortgage product; we provide a concise “Guide to Reverse Mortgages” for your information which you can access here.

1. This rate is only available to borrowers over the age of 60. For new applications received after 23/08/2018 but subject to change. Comparison rate above is based on a home loan of $150,000 for 25 years. WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in different comparison rates.

Applications are subject to approval. Conditions, fees and charges apply.
Not all lenders lend in every state or territory.

2 This rate is only available to borrowers over the age of 60. For new applications received after 23/08/2018 but subject to change. Comparison rate above is based on a home loan of $150,000 for 25 years. WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in different comparison rates.

Applications are subject to approval. Conditions, fees and charges apply.
Not all lenders lend in every state or territory.

The application of the Australian Consumer Law to each client depends on that client’s individual circumstances. Accordingly, clients should seek independent professional advice on the implications before making any decisions about a financial product or class of products. To read our full disclaimer please see our Guide to Reverse Mortgages or the product profile.