What is a Reverse Mortgage?

A Reverse Mortgage is a Home Loan for people over the age of 55.

It allows the borrower to access a percentage of the equity in their property based on their age; the older the client the more they can borrow.

A Reverse Mortgage does not need to be repaid until the last borrower permanently leaves the home.

The lender can never ask for a payment before this time.

However, if a client does wish to make payments, they are able to do so at no extra cost.

This allows the owner to retain full ownership of their home for as long as they wish, whilst accessing some of their hard-earned equity.