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Reverse mortgages
Apt Wealth Finance, powered by Acceptance Finance
Access the equity in your home, with guidance at every step
A reverse mortgage lets you borrow against the equity in your home for living costs or a specific goal, without the requirement to make repayments while you live there. It’s a more complex product than a standard loan, so careful guidance matters, and that’s exactly what we’re here for.
How a reverse mortgage works
Unlike a standard home loan, a reverse mortgage doesn’t require you to make principal or interest repayments during the loan term. Instead, the interest capitalises, meaning it’s added to the balance, and the debt is usually repaid when the property is sold.
Because the interest builds over time, lenders limit how much you can borrow against the property’s value, and the amount depends on your age. You can still make repayments if you choose, but you don’t have to, which helps you maintain your standard of living.
These are complex products with higher interest rates, generally more than 2 per cent above standard variable rates, and they reduce the equity in your home over time. You’ll be required to obtain independent legal and financial advice before proceeding.
How to apply for a reverse mortgage
From first conversation to long after settlement, here is how your broker works with you.
1
Connect with us
Book an appointment by phone, video or in person, and we’ll assess whether a reverse mortgage suits your situation.
2
Understand the product
If it’s appropriate, we present a recommendation with lender, rate and fees, plus a Reverse Mortgage Information Statement and an ASIC reverse mortgage calculator.
3
Get independent advice
You’ll obtain independent legal and financial advice, an important safeguard given the product reduces your equity over time.
4
Settle your way
Once approved and documented, you can take the funds as a lump sum or as progressive drawdowns, and we stay available afterwards.
What a reverse mortgage can fund
Common reasons people access their home equity later in life:
Everyday living
Supplement your income for day-to-day expenses while staying in your home.
Home improvements
Fund renovations or modifications that help you live comfortably where you are.
Aged care and health
Meet aged care costs or other health-related expenses without selling up immediately.
Lifestyle goals
Travel, a new car or paying off existing debt, drawn from the equity you’ve built.
Women, retirement and long-term security
A practical guide to building the retirement you want, written for the way women actually move through their working lives and beyond.
- How to understand and strengthen your super position at any age
- Catch-up strategies after career breaks or part-time work
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- Planning for aged care, including keeping the family home
- The most common retirement mistakes, and how to avoid them
Apt Wealth Partners · Whitepaper
Women, retirement and long-term security
Meet the brokers behind your loan
Our finance specialists bring a large panel of lenders, deep knowledge of lender policy and a best interests duty to every conversation. Whatever you’re financing, you’ll find someone ready to listen first and help you plan with confidence
Aimee Telford
Aimee Telford
Personal Mortgage Adviser
Aimee Telford is a Personal Mortgage Adviser at Apt Wealth Partners, with a diverse background in the building and novated lease industry.
Melbourne
Matthew Baker
Matthew Baker
Senior Mortgage Adviser
Matt has over 11 years of experience in banking and finance including both personal and business banking.
Geelong
Matthew Papuga
Matthew Papuga
Finance Broker
Matthew Papuga is a Finance Broker at Acceptance Finance, splitting his time between the Balwyn office and Hoppers Crossing to stay available to clients across both areas.
Balwyn and Hoppers Crossing, Melbourne
Richie Kasai
Richie Kasai
Finance Broker
Richie Kasai is a Finance Broker at Acceptance Finance, based out of the Balwyn office and known across Kew and Doncaster.
Balwyn, Melbourne
Sally Whitworth
Sally Whitworth
Finance Broker
Sally Whitworth is a Finance Broker at Acceptance Finance, focused on educating clients so they can make informed decisions about their loan choices.
Balwyn, Melbourne
What our clients often ask us
Do I have to make repayments on a reverse mortgage?
No. While you live in the home, repayments aren’t required and the interest capitalises onto the balance. You can choose to make repayments if you’d like to slow the growth of the debt, but it isn’t a requirement.
How much can I borrow?
Lenders limit the amount against your property’s value because interest builds over time, and the amount generally depends on your age. We’ll help you understand what’s available in your situation.
Why do I need independent legal and financial advice?
Because a reverse mortgage reduces the equity in your home over time, independent advice is a required safeguard to make sure you fully understand the long-term impact. It’s an additional cost to be aware of.
Are the interest rates higher?
Yes. Reverse mortgages are more complex and generally carry rates more than 2 per cent above standard variable home loan rates. We’ll be upfront about the cost so you can weigh it properly.
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Explore more on the Apt Wealth Partners blog.
Talk it through before you decide
Book a no-obligation chat and we’ll explain how a reverse mortgage works and whether it suits your situation.
Prefer to talk now? Call us on 1800 801 277
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