Equity release
A seniors equity release loan, or reverse mortgage, lets you access some of the equity in your home without having to sell or move. The money can be used for almost anything: a new car, home improvements, aged care, helping family or that big trip you’ve always talked about.
Pauline has been a SEQUAL accredited adviser since 2008. She’ll explain how it works in plain English and answer every question, and we encourage you to bring your family into the conversation.
How it works
You keep living in and owning your home.
Interest is added to the loan, though you can make voluntary repayments if you want to.
Take a lump sum, regular payments to top up your income, or a mix of both.
You won’t owe more than your home is worth when the loan is repaid, as long as you meet the loan terms.
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Things to consider
How much you can borrow depends on your age, your home’s value and any loan you already have. Because interest is added to the loan over time, the amount you owe grows, which leaves less equity in your home later on.
It can also affect your pension, so it’s important to think about your future plans and your family. We recommend talking it through with your family and getting independent legal and financial advice. Pauline will walk you through all of it, so you can decide with confidence.
Other ways we help
Grants, deposits and stamp duty explained step by step, so buying your first home feels doable.
Pre-approval, bridging finance and taking your loan with you to your next place.
Rates have gone up. We’ll check whether there’s a better deal out there for you.
Buy, build or refinance a shop, office, factory or investment property.
Finance for the family car, the ute, the tinnie or the gear that keeps your business moving.
what people say
Questions
Reverse mortgages are for older Australians who own their home. The minimum age and how much you can borrow depend on the lender, your age and your property’s value.
No. Interest is added to the loan, and the loan is usually repaid when you sell your home, move into aged care or pass away. You can choose to make voluntary repayments.
Yes. You keep ownership of your home and can keep living there.
Reverse mortgages in Australia come with a no negative equity guarantee, so you won’t owe more than your home is worth, as long as you meet the loan terms.
It can. How you take and use the money may affect your Centrelink entitlements. We recommend checking with Centrelink or a financial adviser before you decide.
SEQUAL is the Senior Australians Equity Release Association of Lenders. Its members follow a strict code of conduct, and accredited advisers like Pauline complete ongoing training and are reviewed every year.
The Australian Government’s Home Equity Access Scheme is another way for eligible older Australians to access the equity in their home. We can explain how it compares.
Make the most of what you have
Want to know more about equity release? Talk to Pauline today.
