Open to Australians aged 67 or older, the scheme has an interest rate of just 3.95% – which hasn’t changed in more than three years.
Articles on reverse mortgages
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The gap in housing wealth between older and younger Australians has widened from 161% to 234% – making it almost half as big again.
Reverse mortgages are a way to release the equity in a home, which is an important component of wealth for many Australians. Such mortgages have been proposed by the Financial System Inquiry as a way to…
The Commission of Audit has recommended including homes above a certain value in the means test that determines who gets the age pension and how much. Under the proposal, homes valued in excess of A$500,000…
Perceptions of the family home have changed dramatically in recent years. Once viewed as a tool to ensure low housing costs in old age, a more complex and wide-ranging welfare role for home ownership has…
Top contributors
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Professor, Finance, UTS Business School, University of Technology Sydney
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John Curtin Distinguished Professor, Curtin University
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Emeritus Professor of Housing and Housing Studies, RMIT University
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Research Fellow, School of Accounting, Economics and Finance, Curtin University
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Associate Professor in Risk & Actuarial Studies, UNSW