A reverse mortgage is a type of home loan that allows Australians aged 60+ to access equity from their home without selling. You continue to own and live in your home, while using the funds to support your lifestyle in retirement.
Instead of making monthly repayments, interest is added to the loan balance over time. Formal Repayments are not required, but you can elect to make interest only repayments or lump sum payments as it suits you. The amount you can borrow depends on:
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