You’ve worked so hard to get where you are.

Watching living costs sky-rocket as you count every dollar is no way to enjoy your retirement. Your reverse mortgage could be your solution.

How can you spend your reverse mortgage funds?

The short answer is, any way you please, from taking care of your health to improving your lifestyle as you plan the rest of your retirement. Many reverse mortgagees use the funds for:

• Ongoing living costs

• Medical expenses

• Travel

• Assisting their children and grandchildren

• Lifestyle improvements, such as stair lifts and home renovations.

Remember: Reverse mortgages have negative equity protection:

This protects you from owing more than your home is worth, securing your - and your family’s - financial future.

A few of the most important points to know about reverse mortgages are listed below:

• Your interest is calculated on your daily outstanding balance, and added to your loan account separately. It’s not charged until you no longer need your home.

• The amount of equity you can draw down is determined by responsible lending regulations (i.e. negative equity protection).

• Drawing funds from your property now may reduce what you can access later on.

• Variable interest rates mean the amount you’re charged changes over time.

• Setting up your loan incurs fees and charges, like any other loan. Our expert specialised brokers can help you access the best value options for you#.

Here’s the most important part:

You don’t need to make any repayments on your reverse mortgage, and there are no restrictions on how you can spend your cash. 

You can just - live. 

It’s your home, after all, and your lifestyle. Don’t you deserve a chance to enjoy it?