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88 real stories and 22 common questions about Australian reverse mortgages

Is a reverse mortgage right for you? Get honest answers before you decide.

Real stories from Australian homeowners, plain-English answers to the hard questions, and a qualified broker when you're ready.

Read real stories Get my questions answered

Or speak to a broker

We publish stories and answers, and if you ask, we pass your details to a licensed broker. How we make money.

A simple path, at your own pace

Three steps. You can stop at any of them.

  1. 1

    Read real stories

    See how it went for other Australian homeowners: good, bad and still unfolding.

    Browse the stories
  2. 2

    Get your questions answered

    Plain-English answers about the pension, your family, aged care and more.

    Find an answer
  3. 3

    Speak to a broker if you'd like help

    Only when you're ready. Free, with no obligation to go ahead.

    Request a call

Real stories

The bad experiences sit right beside the good ones.

See all 88 stories

88 stories gathered from public discussions. Every story is linked back to its original source.

Most asked

All 22 questions

The decision isn't only financial

The feelings matter as much as the figures.

“I don't want to leave debt to my children”

It's reasonable to take your time. Your feelings, your family and what home means to you all matter. You do not need to make a decision today. Read a range of experiences and write down what you would want to understand before speaking with a broker.

“I feel guilty spending my equity”

It's reasonable to take your time. Your feelings, your family and what home means to you all matter. You do not need to make a decision today. Read a range of experiences and write down what you would want to understand before speaking with a broker.

“I'm worried I'll regret it”

It's reasonable to take your time. Your feelings, your family and what home means to you all matter. You do not need to make a decision today. Read a range of experiences and write down what you would want to understand before speaking with a broker.

“My partner isn't convinced”

It's reasonable to take your time. Your feelings, your family and what home means to you all matter. You do not need to make a decision today. Read a range of experiences and write down what you would want to understand before speaking with a broker.

“I've always believed debt is bad”

It's reasonable to take your time. Your feelings, your family and what home means to you all matter. You do not need to make a decision today. Read a range of experiences and write down what you would want to understand before speaking with a broker.

How reverse mortgages work, in 60 seconds

You don't make repayments. That's why the balance grows.

Interest is added to the loan each month, and then interest is charged on that interest too. Over 10 or 20 years the amount owed can become much larger than the amount you borrowed. It's usually repaid when the home is sold.

See the full explanation Try the calculator
Illustrative numbers onlyNot a quote and not a current interest rate.
$0$452K$904K$1.4M$1.8MStart5 yrs10 yrs15 yrs20 yrs25 yrsWhat you borrowed
If you borrowed $100,000 and made no repayments, at an example rate of 8% a year the amount owed after 15 years would be about $330,692. This simple illustration compounds monthly, with no fees or further withdrawals. Your real figures depend on the lender, the rate and fees. To try your own example figures with monthly interest, home value and fees, use our projection calculator.

When you'd like to talk it through

Ask a broker to call you. No obligation, no pressure.

Only when you're ready. A broker can go through your questions, with family on the call if you like, and may tell you a reverse mortgage isn't right for you.

Ask a broker to call me Call 1300 038 633How we make money
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Credit Representative Numbers 520438 and 480652, authorised under Australian Credit Licence 389328
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