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Reverse Mortgages in Australia 2025: What You Need to Know
A reverse mortgage allows homeowners aged 60+ to access the equity in their home without selling. Unlike a regular mortgage, no repayments are required — the loan is repaid when you sell, permanently move out, or your estate is settled.
Key Consumer Protections
- No negative equity guarantee: All Australian reverse mortgages now include this guarantee — you or your estate can never owe more than your home's value
- ASIC regulation: All reverse mortgage lenders are regulated by ASIC under the National Consumer Credit Protection Act
- Independent legal advice: Lenders are required to encourage borrowers to seek independent legal and financial advice before settling
How Much Can You Borrow?
The maximum you can borrow is determined by your age and property value. Younger borrowers (60-65) can typically access 15-20% of property value; older borrowers (80+) up to 40-45%. The government HEAS has different rules.
Government HEAS vs Commercial Reverse Mortgage
The government Home Equity Access Scheme offers a 3.95% fixed rate — far cheaper than commercial lenders' 8.5-9.3% rates. However, HEAS has maximum loan amount limits and different eligibility criteria. Always compare both options.
Listings are for informational purposes. Rates quoted are indicative mid-2025 and may change. Always seek independent financial and legal advice before taking out a reverse mortgage.
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