Reverse Mortgage Loans
Unlock Your Home Equity to Fund a More Comfortable Retirement
A reverse mortgage allows older homeowners to access the equity tied up in their property without needing to sell or make regular repayments. At Stellar Finance Group, we help eligible Australians tap into their wealth securely, providing guidance, competitive interest rates, and tailored support every step of the way.
How to Apply for a Reverse Mortgage
1. Initial Consultation with a Reverse Mortgage Specialist
Start with a free, no-obligation consultation to assess your financial situation, retirement goals, and eligibility. Whether you’re looking to access equity for medical costs, aged care, or lifestyle support, our reverse mortgage specialists
2. Home Equity Assessment & Loan Structure Planning
We evaluate your property value and home equity to determine your potential loan amount. You’ll choose a structure that suits your needs, whether a lump sum, income stream, or line of credit. We’ll explain how the loan balance grows, how interest is calculated, and how the loan affects your estate planning.
3. Lender Comparisons & Reverse Mortgage Pre-Approval
Stellar Finance Group compares offerings from top reverse mortgage lenders, including those with negative equity guarantees and competitive interest rates. We’ll present your application for pre-approval, ensuring it matches both your property profile and lifestyle needs.
4. Financial and Legal Advice Requirement
Before you proceed, you’ll need to obtain independent legal and financial advice, a mandatory part of the reverse mortgage process. This ensures you fully understand the product’s long-term impact, including implications for inheritance, Centrelink, and repayment conditions.
5. Formal Application & Property Valuation
Once your loan structure is finalised, we submit the formal loan application and arrange for a professional property valuation. We also liaise with the lender on your behalf, managing all documentation and regulatory requirements to make the process smooth and stress-free.
6. Loan Settlement & Accessing Your Home Equity
Upon approval, the reverse mortgage loan settles, and you receive your funds according to your chosen structure. Whether as a one-time cash payment or monthly income, you stay in your home with no monthly repayments required. We continue to review your loan strategy over time to ensure it aligns with your evolving retirement goals.
Who We Are
DR. LISA BRIDGETT
Stellar Finance Group is a boutique mortgage brokerage led by PhD-qualified finance expert Dr. Lisa Bridgett. We specialise in providing tailored mortgage and finance solutions for professionals and retirees across Australia, including expert guidance on reverse mortgage loans and home equity access.
With decades of experience navigating complex lending structures, we help older Australians unlock the value in their homes through safe, flexible equity release strategies. Whether you’re seeking to supplement your retirement income, fund aged care, or reduce financial stress without selling your home, our team provides clear, independent advice every step of the way.
We partner with leading reverse mortgage lenders, ensuring you have access to competitive interest rates, strong consumer protections like the negative equity guarantee, and a loan structure that fits your lifestyle.
At Stellar Finance Group, we’re more than brokers, we’re your trusted partner in planning a secure and dignified retirement.
What Is a Reverse Mortgage?
A reverse mortgage loan is a specialised financial product designed for Australians aged 60 and over. Unlike a traditional mortgage, there are no monthly repayments required. Instead, the loan balance is repaid when the home is sold, typically when the borrower moves into care or passes away.
You continue to live in and own your home, while gaining access to your home equity as a lump sum, income stream, or line of credit, helping cover living expenses, medical bills, renovations, or even travel in retirement.
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We also work with lenders who offer valuable benefits such as Lenders Mortgage Insurance (LMI) waivers and discounted mortgage insurance premiums for eligible lawyers. For self-employed borrowers or those with alternative income streams, we assist with flexible loan documentation including Business Activity Statements (BAS), bank statements, and accountant declarations to simplify your loan approval.
Serving members of the Law Society, Bar Association, and the wider legal community across NSW and Australia, our mortgage brokers at Stellar Finance Group understand your financial situation and tailor loan products specifically for lawyers. With personalised service and access to specialist loans, we help you secure finance confidently and efficiently.
How Does a Reverse Mortgage Work?
Your Trusted Partner in Property and Finance
- You must be aged 60 or older (loan amount depends on the age of the youngest borrower).
- The loan amount is based on your property’s value and available equity.
- No regular repayments are required, though you can make voluntary repayments to manage the loan balance.
- Interest compounds over time, and the loan is repaid when the home is sold.
- All loans come with a negative equity guarantee, ensuring you’ll never owe more than the home’s value when sold.
Why Choose Stellar Finance Group?
Led by Dr. Lisa Bridgett, Stellar Finance Group specialises in tailored mortgage advice for Australians planning ahead for retirement. Whether you’re comparing reverse mortgage lenders or navigating complex eligibility rules, we provide:
- Access to leading lenders including GC Mutual Bank and P&N Bank
- Guidance on interest rates, equity release, and repayment options
- Transparent advice and no-obligation consultations
- Clear explanation of your responsibilities, protections, and rights
Risks and Considerations of Reverse Mortgages
While reverse mortgages offer financial flexibility for older homeowners, it’s essential to understand key risks before proceeding.
1. Compound Interest Increases Loan Balance
Interest on a reverse mortgage loan compounds over time, meaning your loan balance grows faster the longer it remains unpaid. This can reduce available home equity and affect your estate.
2. Reduced Inheritance
Since the loan amount plus interest is repaid from the sale of your home, there may be less equity left for your beneficiaries. Consider your estate planning carefully.
3. Eligibility Limits
Not all properties qualify. Some lenders may have restrictions based on your age, property type, or location.
4. Borrower Obligations
You must keep the home in good condition, live there as your primary residence, and pay property taxes and insurance. Failure to meet these could trigger loan repayment.
Alternatives to Reverse Mortgages
If a reverse mortgage isn’t right for you, consider these alternatives based on your financial situation:
- Home Equity Access Scheme (HEAS): A government-backed option offering fortnightly income using your home equity. Lower risk, but stricter rules.
- Redraw Facility or Line of Credit: Use available funds from an existing home loan without a new application.
- Refinance Your Mortgage: Switch to an interest-only or lower repayment loan if you still have regular income.
- Downsizing: Selling to buy a smaller home can release equity but may involve lifestyle changes.
Stellar Finance Group can help you explore both reverse mortgage loans and other equity release options.
Reverse Mortgage vs Traditional Mortgage
| Feature | Reverse Mortgage | Traditional Mortgage |
|---|---|---|
| Repayments | None required | Regular repayments mandatory |
| Borrower Age | 60+ | Typically 18+ |
| Loan Purpose | Equity release | Purchase or refinance |
| Loan Repayment Trigger | Sale of home / permanent move | Monthly scheduled payments |
| Ownership | Retain full ownership | Retain ownership |
Repayments
Reverse Mortgage: None required
Traditional Mortgage: Regular repayments mandatory
Borrower Age
Reverse Mortgage: 60+
Traditional Mortgage: Typically 18+
Loan Purpose
Reverse Mortgage: Equity release
Traditional Mortgage: Purchase or refinance
Loan Repayment Trigger
Reverse Mortgage: Sale of home / permanent move
Traditional Mortgage: Monthly scheduled payments
Ownership
Reverse Mortgage: Retain full ownership
Traditional Mortgage: Retain ownership
Benefits of a Reverse Mortgage
- Access your home equity without selling your home
- No regular loan repayments
- Flexible loan structures: lump sum, income stream, or line of credit
- Negative equity protection
- Helps cover rising living expenses, aged care, or support loved ones
- Keeps you in control of your lifestyle and estate
Is a Reverse Mortgage Right for You?
A reverse mortgage can be a helpful solution for:
- Retirees seeking a regular income stream
- Those needing aged care funding
- Supporting estate planning goals
- Avoiding the sale of a long-term family home
- Managing unexpected medical or property expenses
It’s essential to consider your financial situation, estate planning, and future needs. We strongly recommend seeking independent financial advice before applying.
Understanding the Home Equity Access Scheme (HEAS)
In addition to private reverse mortgages, the Home Equity Access Scheme (formerly Pension Loans Scheme) offers a government-backed alternative for eligible Australians. This equity release scheme provides a regular income stream, using your property as security, ideal for part-pensioners and self-funded retirees.
Reverse Mortgage and Centrelink
Reverse mortgage borrowers often ask how their loan amount might affect Centrelink entitlements.
- Funds drawn are not counted unless held as cash or financial assets
- Using funds for home improvements or medical expenses generally doesn’t impact benefits
- Holding large sums may reduce your pension under the income test
Always seek financial advice to avoid surprises. We work with professionals who understand the intersection of reverse mortgages and Centrelink rules.
Frequently Asked Questions
Does compound interest affect my loan balance?
Yes. With a reverse mortgage loan, interest compounds over time, which means your loan balance can grow significantly if unpaid for many years. This may reduce the amount of home equity available to your estate.
Will a reverse mortgage reduce my inheritance?
Possibly. The loan amount plus accrued interest is repaid when the home is sold, which may leave less equity for your heirs. If leaving an inheritance is important to you, consider your estate planning carefully.
Are all properties eligible for a reverse mortgage?
No. Some lenders apply limits based on the property type, location, or market value. Eligibility also depends on your age and how much home equity you have.
What are my obligations as a reverse mortgage borrower?
You must:
- Live in the home as your primary residence
- Keep it well maintained
- Stay up to date on property taxes and insurance
Failing to meet these conditions may lead to the lender requesting early loan repayment.
Are there alternatives to a reverse mortgage?
Yes. Options include:
- The Home Equity Access Scheme (HEAS)
- A line of credit or redraw facility on an existing home loan
- Refinancing to a lower or interest-only loan
- Downsizing to a smaller property
We can help you compare these with reverse mortgage loans.
How does a reverse mortgage affect Centrelink benefits?
In most cases, drawing funds won’t immediately affect Centrelink. However:
- Funds held as cash may count under the income test
- Spending funds on home improvements usually has no impact
It’s best to get personalised financial advice before proceeding.
Hear From Our Clients
Lisa has a fantastic way of tuning into needs and ensuring we have confidence in our important decisions, through being well informed and not rushed. Lisa really made us feel assured and helped to break down any knowledge barriers, making us feel in control of our decisions. Thank you Lisa for your ongoing support and helping to build a positive future for our family!
Wayne Jones
From the moment you first meet, Lisa will be here to inform you, guide you and along with you, make your financial dreams come true. Sam Asadollahi recent experienced this when he asked Lisa to help him with purchasing his first property.
Sam Asadollahi
Got a dream? Lisa and her team can help you make it happen. I can’t think of a better person to have on my team to achieve my goals. Her hard work and determination bring results and she always has plan B and C (at least!) to make sure she can make things happen for you. Her team are excellent, keeping you well informed in the progress of negotiations and very responsive. I can’t recommend Lisa and her team enough!
Jennifer Hsu
Lisa was awesome in the way she carried out her services. She was fully engaged from the very first meeting in understanding our needs to then take us through options in the market and eventually help us choose the right product. The whole process was well defined and managed by Lisa and her team all the way till we settled. If you are on the lookout for a professional who knows the mortgage industry well, spends time to understand your needs and maintains a proactive communication at every step of the process, then Lisa should be your choice for a broker. I highly recommend the services of Lisa Bridgett and thank her for the efforts.
Babu Narayanan
It was an absolute pleasure working with Lisa on our loan financing. Lisa is extremely professional, dedicated and knowledgeable. We were very impressed with how responsive Lisa always was (and still is) to all our questions and we valued the fact that we could communicate with her outside of the normal working hours. We would recommend Lisa highly to anyone in need of mortgage financing.
Magda Louw
Lisa Bridgett is all about making her clients’ life easier! From the moment you first meet, Lisa is there to inform you, guide you and along with you, to make your financial dreams come true. Hear what her client Renee Vella has to say.
Renee Vella
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Explore Your Options with Confidence
Contact Stellar Finance Group today to find out whether a reverse mortgage or the Home Equity Access Scheme suits your retirement goals. We’re here to guide you with expert advice and trusted service.