We provide legal advice for reverse mortgage borrowers across Australia, and all completely remotely, online.
Reverse mortgages are for those over 60 looking to access their home equity without monthly repayments, with the loan and interest repaid upon the home’s later sale.
We ensure you understand the terms and implications of this unique equity release loan.
A reverse mortgage is a home loan that lets over 55’s access part of the equity they have in their home. If they own their property outright they can borrow against the value of their home and receive funds in a variety of different forms, be it a lump sum of cash, a line of credit or a recurring monthly payment.
The main difference with a conventional home loan, is that no monthly repayments are required. Interest will continue to accrue on the loan, but is compounded onto the loan amount monthly.
When you sell, move out, or die, the sale proceeds pay off the balance of the loan, all interest, fees and charges.
Because of the nature of the loan, a borrower must usually see a lawyer to obtain legal advice on the effect of these reverse mortgages and the risks involved.
The lender will send you a number of loan documents in the mail (or increasingly by email) addressed to you as the borrower. Including special ‘reverse mortgage’ loan terms.
Complete our Online Booking Portal to engage us. You will need to provide all of contact details, answer a few questions and you can upload all of loan and supporting documents directly within the portal.
After booking, you will receive a link (by text and email) to complete a Verification of Identity. You will upload your Primary ID documents, take a ‘selfie’ and a video of yourself. It’s simple, just follow the steps and prompts given.
“Unlock the wealth in your home.
Your Home For Life.”
Household Loan
“Unlock your home equity with a Heartland Bank Reverse Mortgage”
Reverse Mortgage
“Access the value in your property to help fund your retirement without having to sell or move out of your home”
Reverse Mortgage
“At Inviva, we love empowering our customers to realise their dreams”
Home Equity Release Loan
“Live the life you’ve earned!“
A.S.A.G Equity Release
There are many lenders that offer home equity release loans, or reverse mortgages, in Australia.
Whilst each must follow the special regulations provided under the National Consumer Credit Protection Act 2009 (Cth) and the National Credit Code, they do all offer different products and features.
Make sure to explore those differences, their products, interest rates and other features to choose what is best for you and your personal circumstances.
Feel free to reach out to us if you have any enquiry related to our reverse mortgage legal advice and the services we provide.