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Reverse Mortgages
Reverse mortgages allow you to borrow cash against the value of your home.
You usually don’t have to make regular repayments until you leave and move into care, sell your home or die. When the loan ends you, or your estate, must repay what is owed, usually out of the proceeds of the sale of your home.
Each year the fees and interest you would ordinarily pay are added to the loan balance. Over time, you're charged interest on the interest (or compound interest) and that builds up the total amount you owe.
You should be eligible for a reverse mortgage if you are 60 years or older and own your own home. You'll usually be able to borrow between 15% and 40% of the value of your home, depending on how old you are – the older you are the more you can borrow. In the case of couples who are both owners of the property, the amount you can borrow is based on the age of the youngest person.
Adelaide
1800-633-745 
TCIS Insurance Brokers Pty Ltd ABN 94 071 275 306 ACN 071 275 306 AFS Licence No :236530 -ATF TCIS Unit Trust ABN 43 338 679 821
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