Reverse Mortgage loan application process

FREE guide from Seniors First. Downloaded by thousands of Australians since its introduction in 2008.

For many pensioners and retirees, the Reverse Mortgage loan process begins with a long period of research. It’s not uncommon for some borrowers to gather information and think about it for 12 months or longer until they actually proceed with a Reverse Mortgage application.

Ideally, before you apply for a senior’s Reverse Mortgage loan you should:

For many pensioners and retirees, the Reverse Mortgage loan process begins with a long period of research. It’s not uncommon for some borrowers to gather information and think about it for 12 months or longer until they actually proceed with a Reverse Mortgage application.

Ideally, before you apply for a senior’s Reverse Mortgage loan you should:

  • have a clear goal or purpose for the funds
  • understand how Reverse Mortgages work
  • be comfortable with the concept of compound interest
  • discuss it with family, friends or trusted advisers

Once you decide to make a Reverse Mortgage loan application, Seniors First will conduct a detailed interview with you to gather information and recommend suitable lenders. Our thorough ground work makes the actual application process quick and easy, and most Reverse Mortgages applications get completed within 4-6 weeks.

As your Reverse Mortgage broker, Seniors First staff will handle the Reverse Mortgage loan application process for you. We will:

  • recommend suitable Reverse Mortgage lenders
  • submit your loan application to the chosen lender
  • do all the legwork to get your Reverse Mortgage loan approved
  • manage your application until the loan settles

The application process

Initial Enquiry

Seniors First issues a Reverse Mortgage calculation to you

Seniors First provides a shortlist of recommended lenders

Seniors First conducts a formal client interview with you under 'Best Interest Duty' (BID). This is a level of consumer protection unique to brokers. 

You make a final choice of Reverse Mortgage lender from our panel

Application form completed & lodged to Seniors First with supporting documents

Seniors First submits your loan application to the lender for approval

Valuation ordered on your home

Loan approved and contracts issued

You get legal advice & sign contracts

Loan Settles, and you receive funds

Let's hear from you!

Interested in reverse mortgages or researching your best options for aged care finance or seniors home loans? We are here to help.

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