Reverse Mortgages

At Influence Finance Group, we help clients unlock home equity with reverse mortgage solutions

5.0

from 14 reviews

Reverse Mortgages

Helping You Unlock the Value in Your Home for a More Comfortable Retirement

What Is a Reverse Mortgage?

A reverse mortgage is a type of home loan for older Australians (usually aged 60 and over) that lets you borrow money using the equity in your home—without needing to make repayments while you’re still living there.

It’s a way to unlock cash from your home to help cover living costs, medical bills, home improvements, or other expenses in retirement.

How Does It Work?

  • You stay in your home and continue to own it.
  • You can receive the funds as a lump sum, a regular income stream, a line of credit, or a combination.
  • You don’t need to make repayments while living in the home, but interest is added to your loan, and this compounds over time.
  • The loan is repaid when your home is sold, either when you move into care or after you pass away (by your estate).

How Much Can You Borrow?

  • The amount depends on your age and the value of your home.
  • As a rule, at age 60, you may be able to borrow around 15–20% of your home’s value.
  • For each year over 60, the amount increases slightly—about 1% extra per year.

Things to Consider

  • Interest compounds, meaning the longer you have the loan, the more you’ll owe.
  • Your equity will reduce over time, which can affect how much you leave behind.
  • You may be able to protect a portion of your home’s value to help pay for future care.
  • Most reverse mortgages now include negative equity protection, so you can’t owe more than your home is worth.

Costs Involved

  • Costs will vary by lender but typically include:
  • Interest rates (usually higher than standard home loans)
  • Establishment fees
  • Ongoing service or valuation fees
  • Your lender must provide projections showing how the loan will affect your home equity over time. Ask for a copy to take away and review with your financial adviser.

Is It Right for You?

A reverse mortgage might suit you if you:

  • Want to stay in your home
  • Need extra funds in retirement
  • Aren’t ready to downsize or sell
  • Understand and accept the long-term financial impact
  • Before proceeding, always get independent financial and legal advice to ensure it's the right fit for your situation

Our Latest Reviews

Kapilan Sarma

I have known Paul for a number of years now and he has assisted be with various services from re-financing loans to new home loans for house purchases. All my experiences with him have been positive. His ability to respond in a timely manner to lender issues, providing financial advice and constantly keeping me in the loop during all steps is very comforting. I would highly recommend him to others who require similar services. Thanks Paul for all your help over the years.

Gayle Millington

Paul and the company have been so very helpful on many occasions. He takes a personal interest with all his clients He know his stuff and is up to date with all the latest products and policies… would and have told everyone about him…

Joel Parker

I wanted to take a moment to commend Paul for his remarkable service in assisting us to secure a complex home loan. Navigating through the intricacies of home financing can be daunting, yet with Paul, it felt like a well-planned journey. ...

Amanda Kemp

Paul has been absolutely amazing! Going over and above to get the best deal for myself and my family. I would recommend him to anyone who is looking for a Mortgage Broker who will keep your best interests at heart and get you the best outcome.

Briar Ferguson

Paul was referred to me as I was struggling to find a finance professional who could cater for my finance requirements. I found him to be extremely professional, diligent with the ability to think outside the box. ...

Monica Brabant

Paul is absolutely amazing. He's helped me twice now with refinancing, he really listens and understands my goals and goes above and beyond to get the best outcome for me. I wouldn't hesitate to work with Paul again, and highly recommend him to anyone else

We work with Australia's biggest lenders

Frequently Asked Questions

Should I go directly to a bank or use a broker?

Banks will only offer their own products, which may not be the best fit for your situation. A broker compares a wide range of loan options from different banks and lenders to help you find the right solution. Brokers are also legally required to act in your best interest, while banks are not held to the same standard.

Is there a cost to use a mortgage broker?

In most cases, you won’t need to pay a fee for our service. Mortgage brokers are typically paid a commission by the lender you proceed with. If you're unsure or would like to learn more, feel free to reach out with any questions.

Is pre-approval necessary for an investment loan?

Yes, getting pre approval is an important step when purchasing an investment property. It means the lender has reviewed your financial situation and confirmed the maximum amount they are willing to lend. This helps you understand your budget and makes you more confident when you are ready to make an offer.

What happens to my home loan if I move to a new property?

If you are buying a new home, you usually have two options for your loan. You can refinance with your current lender or a new one, or you can pay off your existing loan and apply for a new one for your next property. A broker can help you understand what you can afford and which option might suit you better.

How can I choose the right investment loan?

The best investment loan will support your financial goals, whether you are focused on increasing cash flow or building long term value. One of the first things to consider is whether you want a fixed or variable interest rate. Each lender offers different loan features, so working with a broker can help you find the right loan with the right structure for your needs.

What are the fees involved in buying a property?

There are several extra costs that come with purchasing a property, and they are not always explained clearly. These can include stamp duty, loan application fees, building and pest inspections, and other charges. Speaking with a broker can help you understand all the costs upfront and avoid unexpected surprises.

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