Typical Uses

Some typical (and not-so-typical) uses for reverse mortgages are:

​

• Property Maintenance (e.g. roof replacement, house painting)

  ​

• Property Improvement (e.g. new kitchen / bathroom, easy access shower)

  ​

• Improved Home Comfort (e.g. heat pump, insulation)

  ​

• Property Purchase

  ​

• Repay an existing mortgage (no more loan instalments)

  ​

• Supplementing retirement income (extra income to make things easier)

   

• Upgrade to a newer or more suitable / reliable vehicle

  ​

• Overseas or Domestic Holiday

  ​

• Purchase of a Motorhome or Caravan

  ​

• Improved eyesight (cataract removal)

   

• Private Heathcare (hip / knee replacement)

 

• Home-based Carers (private arrangement)

  ​

• Assist with the cost of Health Insurance premiums

  ​​

• Gift / helping hand to family members (inheritance in advance)

  ​

• Completion of vintage car restoration project

​

These are just some of the more common reasons people access a reverse mortgage. However, you can generally use the cash for whatever you want

Need more details? Contact us

We are here to assist. Contact us by phone or email.