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For some people, a reverse mortgage provides important funds to increase their retirement savings and help with living expenses. For others, it could help with home improvements, repair or maintenance or to help buy that much wanted caravan or go on that big holiday.

How does a reverse mortgage work?

For those with a substantial asset in their personal property, the decision to put the family home, which they know, love and wish to remain in, up for sale to release the equity can be daunting. A reverse mortgage presents an alternative option - one that allows individuals to stay in their home, realise its value and access the money they need, right now.

A reverse mortgage involves entering into a contract where a person borrows against the value of their home and then receives funds without the need to make loan repayments. Instead, the loan balance is usually paid out when they sell the home to buy a less expensive property, move into aged care or is paid from the person’s estate once the house is sold after they pass away.

How do I know if this is right for me?

As a customer-owned bank, our approach to offering this product is focused on providing you with an ethical and valuable solution to your financial situation. This means taking the time to make sure you really understand the nature of the product and how it can work best for your situation.

We engage with you and, if appropriate, your family, to ensure you have a strong understanding of what is involved. Everyone’s circumstances are different and that's why we want to sit down, understand what each person needs, and help them decide if our Reverse Mortgage Home Loan suits.

How can I find out more?

For more information, or to find out how much you’re eligible to borrow, please contact us on 13 25 77 and we can arrange for you to speak with one of our accredited reverse mortgage lenders.


Banking and Credit products issued by Police & Nurses Limited (P&N Bank) ABN 69 087 651 876 AFSL/Australian Credit Licence 240701. Any advice does not take into account your objectives, financial situation or needs. Read the relevant T&Cs, before downloading apps or acquiring any product, in considering and deciding whether it is right for you. The Target Market Determinations (TMDs) are available here or upon request.