A reverse mortgage lets Australians 60 and over use some of the equity in their home for the things that matter — without having to sell, downsize, or take on regular repayments. We'll walk you through how it works, what it costs over time, and whether it's actually the right move for you and your family.
After decades of paying down a mortgage, your home is probably your biggest asset — and yet most people aren't quite sure what to do with that equity in retirement. A reverse mortgage is one option. It lets you draw on some of the value of your home — as a small lump sum, a top-up to your fortnightly income, a line of credit for when you need it, or a mix of all three.
You stay living in your home, you keep the title in your name, and you don't make repayments unless you want to. The loan and the interest get paid back later, usually when the home is eventually sold. We'll explain it all in plain English, talk through it with your family if you'd like, and only recommend it if it's genuinely the right fit.
A reverse mortgage isn't for everyone — but for the right situation, it can take real pressure off retirement.
The biggest reason people choose this over downsizing is the simplest one — they don't want to leave. After 20 or 30 years in the same home, the garden you planted, the neighbours you know, the church or club around the corner — these things are worth something money can't replace. A reverse mortgage lets you access cash without packing a single box.
Unlike a regular home loan, you don't have to make monthly repayments. The interest builds up on the loan and is paid back when the home is eventually sold — usually when you move into care or as part of your estate. If you do want to pay some of it down along the way to keep the balance lower, you can do that too — most lenders allow it without any fees.
Every new reverse mortgage in Australia comes with what's called a "no negative equity guarantee" — built into the contract by law. It means no matter what happens to interest rates or property values, you (and your estate) can never owe more than your home is worth when it's eventually sold. Whatever's left after the loan is paid out goes to you or your family. It's the most important protection in the product, and it applies to every reverse mortgage we'd ever recommend.
Most of our clients have at least one adult child sitting in on the planning. We welcome it. Bring them along, put them on the call, share the projections — everyone on the same page about what's happening, what it costs over time, and what's left for the estate. No surprises, no awkward conversations down the track. Just a decision the whole family understands.
Three relaxed steps. We don't rush, you don't sign anything until you're sure.
We start with a no-cost conversation — over the phone, on a video call, or in person if that suits you. Bring family or a friend along if you'd like; most of our clients do, and we encourage it. We'll ask about your situation, what you're hoping to achieve, your home, and what you've already considered. No commitment, no paperwork, no pressure. By the end of the chat, you'll have a clear picture of whether a reverse mortgage even makes sense for you.
If a reverse mortgage looks like it might suit, we put together detailed projections for you to take away and look at properly. These show how much you'd borrow, how the interest builds up, and what your home equity would look like after 5, 10, 15 and 20 years — under different interest rate and property value scenarios. We also walk through other options worth considering, including the federal government's Home Equity Access Scheme, downsizing, or simply using existing savings. You see the full picture, not just the rosy version.
Before any reverse mortgage goes ahead, you get independent legal advice — that's a requirement for the product, not just a recommendation. Most lenders also like to see you've spoken with a financial adviser, so they're confident you understand the long-term implications. We help you arrange both, sit in on the conversations if you'd like, and only proceed once you and your family are comfortable. From there, settlement usually takes 3–4 weeks.
How much you could access, and what your home equity looks like at 5, 10, 15 and 20 years — under conservative and standard assumptions.
Live calculator coming soon, built on ASIC-approved methodology. Numbers shown reflect a typical scenario based on early 2026 rates and conservative growth assumptions. Your figures will differ — we'll model them in full, with equity projections at 5, 10, 15 and 20 years, on a no-cost call.
A reverse mortgage is a serious financial decision. We'd rather you ask all the questions now than have any surprises later.
The amount available is mostly based on two things: your age and your home's value. The older you are, the higher the percentage of your home you can access — typically around 15–20% at 60, around 25% at 70, and 35–40% at 80 or above.
Most lenders also have minimum home values (usually $400,000 or above) and some have dollar caps on the maximum loan. We run the numbers based on your specific home and age, so you know exactly what's available before any decisions are made.
This is the part most worth understanding properly. Because you don't make regular repayments, the interest charged on your loan gets added to the balance each month — and over time, it compounds. A loan of $100,000 at 8.5% interest, with no repayments, will roughly double in nine years.
That's not a reason to avoid a reverse mortgage — it's a reason to think carefully about how much you actually need, and to draw it as you need it rather than as one big lump sum sitting in the bank. We'll always show you how the loan grows under different scenarios, so you go in with eyes wide open.
A reverse mortgage isn't itself counted as income by Centrelink, but how you use the money matters. If you take a lump sum and leave it in the bank, after the first 90 days it usually gets counted as an asset — which can affect your Age Pension.
If you use the money on home improvements, medical costs, or aged care, it's typically treated more favourably. We walk you through the likely Centrelink impact based on your situation, and always recommend you confirm with Services Australia or a financial adviser before locking anything in. No surprises with the pension is the goal.
This is often the biggest concern, and it's a fair one. A reverse mortgage reduces the equity you'll leave behind — that's the trade-off. Whether that matters depends on your situation. Some clients have specific plans to leave the home to their kids, in which case we look at smaller, more conservative loans (or other options entirely). Others would rather use some of their home's value to enjoy retirement and let the kids inherit what's left.
There's no right answer — there's just your answer. We always encourage clients to bring family into the conversation early, and we're happy to explain the projections to your kids directly so everyone's on the same page.
Worth knowing about. The federal government runs its own version of a reverse mortgage, called the Home Equity Access Scheme. The interest rate is significantly lower than commercial reverse mortgages — around 3.95% — and it's run through Services Australia rather than a private lender. You can take it as a fortnightly top-up to your pension, a small lump sum, or both.
The catch is the borrowing limits are smaller and the structure is less flexible than a commercial reverse mortgage. For some clients, the government scheme is genuinely the better fit. We'll always weigh both up with you and tell you which one suits your situation.
The loan is paid back from the sale of your home — usually when you move permanently into aged care, sell the home yourself, or as part of your estate after you pass away. Whatever's left after the loan and interest are paid out goes to you or to whoever you've left in your will.
The "no negative equity guarantee" we mentioned earlier means the loan can never exceed the sale price of your home, so your family will never inherit a debt from this. We'll walk you through the process and the timelines, so you and your family know exactly what to expect.
How we helped Margaret stay in her Mandurah home and live a bit more comfortably.
Margaret is 72, widowed for six years, and lives in the Mandurah home she and her late husband paid off in their fifties. The home's worth around $620,000 and there's no mortgage on it. Her Age Pension covers the basics, but rates, insurance, repairs and a recent dental bill had drained her small savings. Her son had heard about reverse mortgages but was worried about what it would mean for his mum's home and his family's eventual inheritance.
We sat down with Margaret and her son together. We walked through the federal government's Home Equity Access Scheme first — and showed them it would have given Margaret a small fortnightly top-up, but not enough flexibility for the one-off home repairs she was facing. Then we modelled a small commercial reverse mortgage: a $40,000 line of credit at her chosen lender's variable rate, drawn down only as needed. We showed her what her home equity would look like after 5 years, 10 years, and 15 years under three different property growth scenarios. Even on the most conservative assumptions, she'd still have well over half her home's value left for her family by age 87. She drew $12,000 in the first year for repairs and a small holiday, and has left the rest sitting unused but available. Her pension is unaffected. Her son has the projection schedule on his fridge. And Margaret is still in the home she's lived in for 31 years.
Names changed, situation real. Numbers based on actual rates and lender pricing as at March 2026.
The questions clients (and their families) actually ask us.
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A reverse mortgage is a real decision and we're not going to rush you into one. Send us a quick note about your situation — your age, roughly what your home's worth, what you're hoping the money would help with — and we'll come back with a clear, friendly overview of your options. The federal government's scheme, a commercial reverse mortgage, downsizing, or just leaving things as they are — we'll lay them all out so you can decide what feels right.
"They sat down with mum and me together. Walked us through the government scheme first, then a small line of credit. No pressure either way. Now mum's still in her home and I've got the projections on the fridge."
If you've still got a regular mortgage running, sometimes the smart move is to refinance first and look at a reverse mortgage later — or not at all. We'll show you both numbers.
Learn moreThe standard home loan — fixed, variable, offset, redraw. If downsizing turns out to suit you better than a reverse mortgage, this is where we'd start the next chapter.
Learn moreCarrying credit-card or personal-loan balances into retirement? Sometimes consolidating into a regular home loan beats unlocking equity through a reverse mortgage.
Learn more