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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 Specialization

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 Realized

$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 Realized

$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

Robert K.

3 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.

3 months ago

Thank you Seema

Bruce C.

3 months ago

Hi Angela

Thank you for all the help that you provided in this matter.

Your service was exemplary. You guided us in what could be a complicated and stressful process at our stage of life. Your assistance relieved us of those pressures.

We would recommend your service to anybody.

Thank you

Bruce & Judith

Colin B.

3 months ago

totally friendly and helpful through the whole process, thank you Angela

Karen J.

3 months ago

What initially felt like a daunting process, was made seamless and easy. My broker Palka ensured that I was well informed at every step of the application process and was always readily available to respond to my questions. I feel excited to be able to move forward with my plans now.

Lesley W.

5 months ago

We were very happy with the speedy and professional service from Seniors First. They helped us navigate all the options available and sorted out the paper work, making it a simple operation to find and apply for the most suitable reverse mortgage for our needs. Highly recommend!

David B.

5 months ago

I was very happy with Seniors First to organize my affairs. Seema was a nice person to deal with and great at getting my application approved, she persisted with my lack of Technology and sending documents. Her experience and knowledge will guarantee success.

barry T.

5 months ago

Understanding, deciding, facilitating and processing an application for a reverse mortgage is not a simple process, however having a Broker who works closely with you step by step is an absolute must have. We choose Seniors First based on peer and industry reviews coupled with the explanatory telecasts they provided explaining what was involved. Having decided to explore further we linked up with our Broker, Angela Giokaris via a lengthy phone discussion. Throughout the following weeks as the application process progressed we were confident that we were in good hands. Angela remained in contact every step of the way, openly ensuring we understood the pros and cons of a reverse mortgage and facilitated every step of the journey. Importantly, there were a couple of conditions from Heartland, our chosen bank, that we had issues with. Angela negotiated with Heartland on our behalf and secured the conditions we were chasing. We found Angela to be highly professional, very knowledgeable of the reverse mortgage product and banking generally. Importantly also, friendly, patient, considerate of our needs, thorough in detail and overall an absolute pleasure to work with. We are very happy with the end result and being able to convert our asset value to a cash value and opening the door to the rest of our lives. We would wholeheartedly recommend Seniors First, and in particular Angela to anyone who is considering going down this track. Barry.

Bobby Y.

5 months ago

I found the consultant from Senior first Richard Chapman, was extremely helpful and also very knowledgeable regarding reverse mortgages. He was always available to assist with any of out questions and or concerns. We found this process very smooth and seamless. My wife and I had many questions during this process, which were always handled with patience and understanding. I would recommend Senior First for anyone thinking about a reverse mortgage they make it easy.
Thanks guys.
Bobby Yarbrough

Ray and Carolyn D.

8 months ago

We were/are clients of Palka Kumar. We were impressed with her friendly nature and boundless knowledge of the industry. We had a number of Tele-conferences with her as she guided us through the process and let us know from the outset that she was with us the whole way through to conclusion. Palka was always available to answer any questions and kept us informed as the process went through the various stages. We have nothing but praise and appreciation for Palkas commitment to her clients. She always made us feel assured and relaxed about a sometimes daunting process. Outstanding.

Ready to Discuss Your Retirement Goals?

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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.