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Palka Kumar

Reverse Mortgage Broker, Melbourne

Rated 4.9 stars

Palka Kumar

Reverse Mortgage Broker

"A reverse mortgage is more than a loan — it’s about creating financial comfort and security. I’m committed to helping homeowners make informed decisions that support both their present needs and long-term goals.”

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About Palka

Palka Kumar is a Reverse Mortgage Broker based in Melbourne. While she is based in Victoria, she proudly assists clients right across Australia in finding suitable reverse mortgage solutions tailored to their individual needs and circumstances.

She has been working in lending and mortgage broking for over five years. Prior to specialising in reverse mortgages, Palka worked as an independent residential mortgage broker, which provided her with a strong foundation in lending, client service, and financial solutions.

Over time, she developed a genuine passion for helping older Australians improve their financial wellbeing and lifestyle throughout retirement. What Palka enjoys most about her role is educating clients in simple, easy-to-understand terms and helping them feel confident in their financial decisions. She takes the time to understand each client’s personal situation and structures loan solutions in a way that best supports their goals, lifestyle, and long-term needs. Palka understands that, for many seniors, remaining in their home is incredibly important.

This is why she is passionate about showing clients how a reverse mortgage may provide greater financial freedom, peace of mind, and lifestyle support without the need to sell the home they love. Seeing the relief and confidence clients gain from having additional financial flexibility is one of the most rewarding aspects of her work.

Palka's Broker Performance Metrics

Reverse Loans by State

9.83%

27.35%

45.73%

1.28%

6.41%

3.42%

5.98%

Loan Approval Rate 30 % Customers served!

Industry-leading approval success rate

Avg Borrower Age 30 Customers served!

Years (typical retirement age group)

Avg Home Value $ 30 Customers served!

Average property valuation of clients

Meet Palka Kumar

Watch this personal introduction to learn more about her approach.

Experience & Achievements

Loan Approval Rate 30 Joined Seniors First

Started career as Reverse Mortgage Broker

Loan Approval Rate 30 + Years in Business

Established mortgage lending expert

Loan Approval Rate 30 + Clients Helped

Successfully assisted over 350 families

Loan Approval Rate 30 % Client Satisfaction

Committed to exceptional service

Areas of Specialisation

Expert guidance for Over 55's home equity release and later-life finance

Mortgage refinances

Loan structuring

Rate negotiation

Lender credit policies

Home renovations funding

Aged Care Finance

Qualifications & Accreditations

Diploma of Finance & Mortgage Broking

Member of MFAA (Mortgage & Finance Association of Australia)

AFCA Registered (Australian Financial Complaints Authority)

Professionally Licensed Under ACL 388952

Completion of Seniors First 56-hour induction program

'Seniors Equity Release & Reverse Mortgage' AAMC Course

Success Stories

Real examples of how Seniors First are changing lives for the better.

Home Renovation Dream Realised

$120,000

Margaret & John, 68 & 70
Bondi, NSW

Situation:

Wanted to renovate their family home of 40 years to age in place but were on a fixed pension.

Solution:

Secured $120,000 through a Reverse Mortgage to fund bathroom accessibility upgrades and kitchen renovation.

Outcome:

The couple now enjoys a modern, accessible home and can remain close to their children and grandchildren.

Debt-Free
Retirement

$85,000

Patricia, 72
Parramatta, NSW

Situation:

Struggling with credit card debt and personal loans totaling $85,000, causing significant stress.

Solution:

Consolidated all debts into a single Reverse Mortgage with lower effective interest.

Outcome:

Patricia is now debt-free and enjoys peace of mind with no monthly repayments required.

Home Renovation Dream Realised

$120,000

David & Susan, 65 & 63
North Sydney, NSW

Situation:

Always dreamed of a 3-month European trip but could not access their superannuation yet.

Solution:

Released $45,000 in home equity to fund their dream holiday.

Outcome:

The couple enjoyed the trip of a lifetime, creating memories with family in Europe.

What the clients say

Rated 4.9 stars on Google

Ramsay S.

2 days ago

Professional, caring, and very pleasant indeed! I don’t think there are many people out there who work with such dedication, and this is my second reverse mortgage signed successfully with Palka.

Mario B.

4 days ago

from the time we started to the time everything was done,Cheryl Maclean has been so helpful to us she has been there for us anytime we needed her.She is a huge credit to the company and it has been a pleasure knowing her .

Dina B.

4 days ago

Our experience with Cheryl has been nothing but amazing. She has helped along this process with much thought and dedication, she has been so patient and supportive throughout the whole experience. We definitely recommend Cheryl. Even when things were getting a bit complicated for us she was always patient. So many phone calls that we made to her she never made us feel like we were a nuisance. A very high praise to her. I’m sure as she went home at night she will feel she’s doing a great days work, for us and anyone else she’s helping. Thank you so much Cheryl for your help at this time of this experience we went through together. We are very grateful that you have been there for us. A very special thanks from Mario and Dina.

Peter W.

6 days ago

Thanks Angela Giokaris at Seniors First. Your help and guidance made it much easier to successfully apply for a Reverse Mortgage Loan.

Patricia A.

7 days ago

Thank you for all your help... Very good too deal with

Richard H.

1 week ago

Angela Giokaris was our Reverse Mortgage Consultant at Seniors First to assist my wife and I to obtain a Reverse Mortgage. Angela's service was exceptional. She provided comprehensive information in a very user-friendly format and was always available to answer questions and provide clarifications. Angela secured an excellent interest rate following a competitive tender of available providers of Reverse Mortgages. My wife and I are very happy with the outcome and recommend Seniors First, and particularly Angela Giokaris, to other people interested in this product. Richard Hughes

Mark W.

2 weeks ago

Palka Kumar from Seniors First was excellent at guiding me through my Reverse Mortgage process.

Lorette S.

2 weeks ago

I cannot speak highly enough of my experience with Cheryl Maclean her patience and guidance from my tentative inquiries to a result I am more than happy with. There was never a question I had that Cheryl couldn't answer confidently which in turn helped me make I believe the right decisions going forward. Thank you Cheryl

Sue H.

2 weeks ago

Cheryl has been an absolute godsend since day one. Nothing was too difficult. Always there to answer any questions or to give advice through this whole journey. I would recommend Cheryl to anyone contemplating a reverse mortgage Many thanks Sue

Jenni A.

2 weeks ago

Our consultant Cheryl Maclean was at all times very professional. She answered all our questions and took us through the process smoothly and we felt very confident. We highly recommend her services.

Dorothy M.

3 weeks ago

I can not speak more highly about the way I was looked after and by Senior first / Reverse mortgage Broker I would and will recommend them to anyone else who needs help . Your's Faithfully Dorothy Mattsson .Thank you once again for their help.

Kathleen H.

3 weeks ago

My husband and I had a wonderful experience with Seniors First for our reverse mortgage especially the great help with our stock broker Cheryl Maclean from Seniors First she could not do enough for us in helping us get the best reverse mortgage loan for us in Inviva and making sure we understood the whole process Much appreciated Cheryl thank you 😊

lorraine G.

1 month ago

.My first phone call to Seniors First was the wisest move in gaining financial security and confidence in my senior years. Due to the expertise and sound advice of my broker, Adam Oakley, the process was fast and efficient. His excellent communication skills and knowledge make me wish I had acted sooner. He was so patient and supportive throughout the process, especially when I was navigating the digital technology of my application. Thank you Adam

sandra T.

2 months ago

My reverse mortgage has just been settled and I am very grateful to my broker Richard Chapman for all his help and advice. Richard guided me through the process providing all information in a timely manner and was always available to clarify any questions which arose. His professional approach together with his warm and engaging manner made working with Richard a positive experience from start to finish. My heartfelt thanks to Seniors First and Richard for their valuable service.

Denise C.

3 months ago

My experience with my broker, Angela Giokaris, was excellent; she kept me fully informed about the process (providing clear instructions and a numbered checklist of the timeline) and the expected duration of the entire process, which in my case was 6 weeks. There was an issue with my own mortgagee which threatened to delay the settlement but in the end it was completed in time to suit my own needs. Throughout this relationship, Angela was always available and encouraging. We communicated and worked well together so I would recommend Angela to anyone seeking to engage Seniors First to provide a Reverse Mortgage.

Eric B.

3 months ago

I recently had dealings with Adam Oakley from Seniors First & cannot recommend him highly enough. From start to finish he was a total professional. All my enquiries were promptly answered & he made the process very smooth & uncomplicated 5 stars all the way!

Judy H.

3 months ago

We have had an excellent experience with Seniors First. Cheryl McLean helped us from our first phone call through to finalization. She explained the process in detail, she was efficient and friendly, and always answered our queries quickly. Highly recommend Cheryl

roland L.

3 months ago

I must say that five stars does not seem enough to value the service we received from Palka Kumar of Seniors First. What a painless process she made of securing a reverse mortgage for us. We had been a little worried about the details involved in the process, but Palka took all the stress out of it. She was quick to respond to queries and anxious concerns and was always available. What is more she was so personable and friendly that we felt we had known her for ages. We could not possibly have achieved the positive result we have attained without her knowledgeable and insightful assistance. In short she was just marvellous and we highly recommend her expertise and her enthusiastic service from Seniors First. Roland and Shirley Lindenmayer Tamborine Mountain, Queensland.

Ann R.

4 months ago

I had been considering a reverse mortgage for some time and had read information from various companies about how it worked. After about five months, I decided to explore it more seriously and attended an online presentation by Seniors First, which clearly explained the process and who it might suit. I chose Seniors First because they focus on everyday seniors, and I felt more comfortable reaching out to them. I am very glad I made contact and was introduced to Angela. From our first phone call, she explained the ins and outs of reverse mortgages in a clear and reassuring way. She made sure I felt comfortable with everything we discussed before moving on to the next steps. Once I confirmed that I wanted to proceed, Angela arranged for all the information to be emailed to me and then followed up to make sure I understood everything. At times, the process felt complicated and stressful, and I called her several times to check that everything was correct. Her friendly manner, patience, and ability to answer questions clearly made the experience much easier and helped ensure all the paperwork was ready for processing. Angela was professional, knowledgeable, and extremely helpful. I particularly appreciated the breakdown she provided of the different banks’ interest rates and turnaround times. Once I decided which lender to go with, she shared examples of how easy they were to work with—and she was absolutely right. An Inviva representative also contacted me to explain how the reverse mortgage worked and to ensure that I fully understood everything before moving forward. After that call, settlement was scheduled for two days later. Although one party was not ready and this could have delayed the process by a week or more, Angela worked closely with the solicitors and helped make sure the loan still settled within the original two-day timeframe. The loan did settle, and I now know I made the right decision. I feel as though I can breathe again, knowing I have funds available if anything happens in the future. Thank you, Angela. Speaking with you felt like speaking with an old friend, and I truly appreciated your support.

Robert K.

5 months ago

Seema was extremely helpful and explain the process with us every step of the way. Anyone thinking of a Reverse Mortgage to use Seema from Seniors First would find it advantageous to do.

Paul V.

5 months ago

Thank you Seema

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Industry Awards & Recognition

Senior's First has developed a reputation as an award-winning Reverse Mortgage broker, and a trusted name among public policy organisations, the aged care industry, senior’s groups, older borrowers and their families.