Reverse Mortgages

A Reverse Mortgage provides you the financial freedom to stay independent through retirement, allowing you to borrow against the equity in your home, without having to sell, by releasing funds for a well-earned and comfortable retirement.

Mortgage Masters Queensland holds accreditation with all Australian lenders who offer this unique product so we can find the product that best suits your needs. We recognise that flexibility is extremely important and have access to products that provide flexible drawdown options, and the ability to repay, partially or in full, at any time, without penalty.

Home equity release is a new idea for some, so if you need more information, please remember we are only a phone call away to answer any of your questions.

Many seniors are now living in homes that hold much of their wealth. By accessing this without having to move you can achieve the things you have always wanted to do, enjoying your retirement to the full.

So how does a reverse mortgage work?

Reverse Mortgage is designed to help you manage your financial requirements by accessing only what you need, as and when required. The amount you are able to borrow depends on a number of factors, such as your age and the value of your home. You are able to live in your home for as long as you wish, benefiting from any potential increase in property values. Making regular repayments is not necessary, although you are free to do so at any time.

You will always retain ownership of your home. The Reverse Mortgage will become repayable when you sell your property, move into long-term care or pass away.

Reverse Mortgage Loan Drawdown Options

Your financial needs can vary based on your circumstances. At Mortgage Masters Queensland, we believe a Reverse Mortgage should be flexible and want to make sure that you are comfortable with your loan.

1. Reverse Mortgage Lump Sum

This is the initial payment made on settlement of your Reverse Mortgage loan. You will receive a lump sum that could be used for home renovation, a mortgage refinance, and a refundable accommodation deposit for aged care, purchase of new car, debt consolidation, and more. A minimum lump sum amount must be initially drawn, but on top of this, you can receive funds in the future in the form of a Regular Advance (a reverse mortgage annual, quarterly or monthly draw) or Cash Reserve facility for future funding needs.

2. Reverse Mortgage Regular Advance option

Many of our clients are looking for a reverse mortgage monthly draw as a funding option. A Regular Advance option can be setup as a monthly, quarterly or annual payment over 5 or 10 years and meets this reverse mortgage monthly draw need. A Regular Advance option can help supplement your retirement income.

3. Reverse Mortgage Cash Reserve

A Cash Reserve facility will enable you to set aside funds that can be used for future needs such as emergency expenses, unplanned home repairs, healthcare, holidays, and more. You can easily access this cash reserve and, the good news is, you don’t have to pay any interest on the undrawn amount.

Remember, no interest is charged on any amount of the facility that has not been drawn down.

“Paul Menti was as professional as he was patient.   Our situation was not easy, yet he pressed through the entire process with us, and I will certainly be giving him my further business and any referrals”

Peter & Debra Urquhart

“Thanks very much for your assistance in this matter, we both really appreciate the way you made everything run so smoothly ad we absolutely love our new place!!”

Emily Rehm

“Jon and I just wanted to say a big huge thank you for all the hard work that you put in while you were securing our mortgage.  Due to your high levels of professionalism you made the whole process as painless as possible.
We are now settling into our new home and loving it.So we wanted to take the time out to thank you again.  We look forward to doing more business with you in the future and recommending you to all of our friends. Thanks a million!”

Aveen and Jon Kerr

“Hi Paul, Thank you for your assistance with my loan. At 79yrs it isn’t easy to find a lender but you persisted until you found Vision Equity. Not satisfied with just anything but searching to find an equitable loan at the best interest possible. I truly appreciate all the time you have taken to ensure that everything went as smoothly and as quickly as possible (Even with a few obstructive actions by a company that will remain anonymous) and for constantly keeping me in the loop letting me know how we were progressing right up to settlement and what the final disbursements were. I have no hesitation in recommending you to friends and family. All good wishes.”



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