BSB 806 015

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BSB 806 015

Reverse Mortgage Home Loan

A reverse mortgage for over 65s with a competitive variable interest rate for those wanting to access the equity in their home.

Available to

Over 65s

Variable interest rate


Flexible repayment options


Redraw facility


What is a reverse mortgage?

A P&N Bank Reverse Mortgage Home Loan is a reverse mortgage option for those in the Perth area and aged over 65. A reverse mortgage allows you to continue to own and live in your own home and draw upon the equity in your home to live a more comfortable retirement.

How does a reverse mortgage work?

A reverse mortgage works by unlocking the equity in your home, allowing you to live a more comfortable retirement, fund living or health expenses, travel plans and more. There are no loan repayments required and when you sell the home, move into an aged care home or pass away, the loan and interest charges will be repaid from the sale of the property.

What are the benefits of a reverse mortgage?

  • Enjoy your retirement – use the funds for any purpose such as travel, a new car, home improvements, medical costs or living expenses.
  • No regular repayments required – no regular repayments are required but you can make voluntary repayments at any time.
  • Redraw facility - your funds may be accessed at any time you need them.
  • Negative equity guarantee – the amount required to repay the loan will never exceed the net sale proceeds of the property.

Am I eligible for a reverse mortgage?

To get a reverse mortgage with P&N Bank, you must be aged over 65. Contact us today via the options listed to speak to our friendly team and find out more.

Find out more about reverse mortgages to decide if it may be the right option for you.

Interest rates

Product Name Rate
Comparison Rate
Reverse Mortgage Home Loan 5.40% p.a. 5.40% p.a.

Reverse Mortgage Home Loan fees & charges

Establishment fee (includes one valuation)
includes one valuation$0
additional valuationsat cost*
Administration charges
Annual fee$0

*At cost refers to costs incurred by P&N Bank resulting from the provision of a product or service requested by the member, which will be passed on to the member.

It’s easy to apply for a Reverse Mortgage Home Loan with P&N Bank. Make an appointment today with one of our reverse mortgage specialists, who will assist you with the application process.

How to apply

We'll come to you

Meet our mobile lending team and book a home loan appointment. They'll visit you at home or at work.

What you need

You'll need either primary ID with a photo (ie. passport or driver's licence), or primary ID without a photo (ie. birth certificate or citizenship certificate) plus secondary ID (ie. a utility bill with your name and address on it).

During your application we’ll ask you to provide information, such as:

  • income details (payslips, or if you're self employed, tax assessments for the last two years and financial statements)
  • contact details for your current and previous employer
  • any assets you own (e.g. value of any cars, deposit accounts, properties, etc)
  • any loans, credit cards or other amounts owing

Variable 5.40 % p.a. Interest Rate

5.40 % p.a. Comparison Rate

Enquire Request appointment

^ The amount you can borrow depends on factors such as age, LVR and property location (metro vs non-metro).


Other fees & charges that apply to all of our accounts can be found on our fees and charges page.

To use this website you are required to read the Credit Guide (which you agree to be provided by accessing this link). Lending criteria applies. Terms and conditions apply and are available on request. Rates stated are subject to change without notice. Fees and charges are payable.

View Home Loan Terms and Conditions

Reverse Mortgage Information Statement

Comparison rate based on a loan of $150,000 for a term of 25 years.

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates.

Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

On applicable home loans, loan value ratio (LVR) is the proportion of money you borrow for a home loan compared to the value of the property.

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