Reverse Mortgages

If you are looking for a Mortgage Broker to guide you through the Reserve Mortgage process, you have come to the right place.

Reverse Mortgage

What is a Reverse Mortgage?

A reverse mortgage allows you to borrow funds for any purpose or for day-to-day living expenses, secured against the equity in their property.

Is it just like a home loan?

The main difference to this product to standard home loans is that the lender does not require the borrower to make any principal or interest repayments during the loan term. The debt instead capitalizes. The debt is traditionally repaid once the property securing the loan is sold.

Loan sizes and repayment requirements.

Due to the nature of the facility, with interest capitalized until the full payment of the debt, lenders restrict the amount that they will advance against the value of the property. The amount you will be able to borrow will be dependent on the age of the borrower.

The borrower has the option of repaying the facility through normal means, however it’s not a requirement of a loan, allowing the consumer to maintain their current standard of living.

An additional requirement of these facilities is that you will be required to obtain independent legal and financial advice, as the nature of the facility diminishes the borrower’s equity in the property.


Reverse Mortgages can be used for paying off debt, home improvements, day to day expenses, travel, buying a car, aged care expenses etc.


Reverse mortgages are more complex products compared to ordinary mortgages and lenders apply higher interest rates – generally more than 2% above standard mortgage variable rates.


In 2018, many lenders removed their Reverse Mortgage products from the market, but we can still refer you to a Reverse Mortgage Provider.

Meet our Reverse Mortgage Specialists

Matthew Papuga

Matthew Papuga

Finance Broker
Richie Kasai

Richie Kasai

Finance Broker

How to apply for a Reverse Mortgage.

Step 1
Connect with us
Contact one of the brokers listed to book an appointment. Appointments can be completed over the phone, online video call, or in our offices.
Step 2
Initial Discussion
We'll chat through your current situation and objectives. Our broker will be able to determine if a reverse mortgage is suitable for your situation.
Step 3
If appropriate our broker will recommend a Reverse Mortgage product for you to consider. The proposal will include lender details, interest rates, set up fees and any ongoing fees. They will also provide you with a Reverse Mortgage Information Statement and a complete ASIC Reverse Mortgage Calculator.
Step 4
If you decide to proceed, our broker will help with the paperwork to submit your application to the chosen lender.
Step 5
The bank will instruct an independent valuation firm to value the security property.
Step 6
If the lender is satisfied with the application, they will approve it and instruct their solicitor to prepare the loan offer documents.
Step 7
Loan Offer Documents
Loan documents will be sent to you to review and sign. Its common for Reverse Mortgage borrowers to be required to obtain Financial and or Legal advice. You will need to organise this, and it is another cost to be aware of.
Step 8
Once the loan offer documents are returned, the lender can proceed to settlement. You may elect to receive the loan funds as a lump sum, or as progressive drawdowns.
Step 9
Ongoing care
Your Acceptance Finance broker will guide you through this complete process, and be available to help with any queries you may have in the future.

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