• As seen on TV
 1300 745 745
Check Eligibility
1300 745 745
Check Eligibility

Start living again.

Fund your retirement with a Reverse Mortgage loan.

Check eligibility

Rated 4.9 stars on

No Repayments Required

Easy loan approval

Retain Home Ownership

5,000+ Happy Customers

Get your results in 60 seconds to see if you qualify for a Reverse Mortgage

Check eligibility

Australia’s #1 Reverse Mortgage loan broker

Since launching in 2006, Seniors First has helped thousands of people over 60 release home equity for cash.

And it's no wonder, because there are good reasons why it’s better to use a broker when applying for a Reverse Mortgage loan:

  • Day-to-day living expenses
  • Home renovations
  • Medical or aged care expenses
  • Debt consolidation
  • Travel and leisure
  • Financial assistance for family
  • Supplementing retirement income

By using Seniors First, you also gain access to multiple lenders and expert advice to make the best financial decisions.

Rated 4.9 stars on

“Sincere thanks to Andrew and Seniors First .. the loan has been life changing.”

Deborah Collett

Jane Barron
02:12 16 Apr 25
I had made contact with Seniors First in 2023, In Feb 2025, Adam Oakley contacted me to find out if I was still interested in applying for a Reverse Mortgage, I confirmed this, but said I couldn't go ahead until I had confirmation from the builder, he then sent some necessary information, Adam continued to keep in touch. I finally got a quote from the builder and the process of applying for a Reverse Mortgage began. Adam was wonderful, as an elderly lady, I often found the legal jargon daunting, but Adam was always available to address my fears, nothing was too much bother. Finally it was time to sign the contracts etc, so much paper work. Once again Adam assured and explained everything and my fears disappeared. I now have the funds in the bank, and am ready and excited to start the new project in my house. I am so thankful to Adam for all his help, assurance and assistance.
Colin Thompson
06:02 11 Apr 25
I was lucky to have my broker Palka Kumar assigned to me for my Reverse Mortage loan. I found Palka to be extremely professional and extremely helpful in all the aspects of securing my loan. I highly recommend her to any future customers of Seniors First.
Doug Coombes
06:31 07 Apr 25
I had a first and second mortgage that I needed to discharge in order to arrange a reverse mortgage. Adam Oakley from Seniors First assisted me with the entire process. Thanks to Adam the transition went smoothly, and I was able to achieve my goals.
Jakes Rudoph
04:53 07 Apr 25
I had a First-Class experience with Seniors First thanks to Adam Oakley, my Broker: From the start of the process, he demonstrated knowledge and insight into my particular needs and throughout maintained an exceptional level of support and empathy. I have no hesitation in recommending Seniors First and in particular Adam Oakley for anyone considering a Reverse Mortgage.
Veronica Scannell
04:06 07 Apr 25
Seniors First provided a great service when I applied for my reverse mortgage.My advisor, Adam made the experience easy and was most helpfulAdams warmth and caring during the process was much appreciated.Ron WA.
L.E
23:43 03 Apr 25
Palka was fantastic and helped me through the process with great patience and understanding. She was very thorough and always helpful and a phone call away if I needed anything. Yes, it's possible to do this without a broker, but for me it was money very well spent as I would not have known about the options available or pitfalls to avoid. I was never pressured into anything, was given numerous options, and the process was explained in great detail. I definitely recommend Seniors First.
Nathan Russell
04:36 02 Apr 25
Our application was managed extremely well by Palka, our broker from Seniors First. Her insight and experience enabled my wife and I have confidence in the entire process. She led our interaction with Inviva, and with a very experience solicitor, allowing the process to arrive at a positive conclusion. Thank you again Palka.
Philip Cram
06:13 24 Mar 25
My wife and I wanted to establish a Line of Credit or Reverse Mortgage to consolidate our debt and a little more for our floating home repairs.We contacted 2 brokers who did not have products that we could use. But the second broker referred us to Angela Giokaris. Angela was so helpful , took time to explain everything to us and made sure we understood how the process works and our obligations...Seniors First have improved our life style considerably.
Ian Hawkins
23:17 17 Mar 25
Process was well communicated and Angela Giokaris assisted throughg the entire process ensuring it went smoothly and well planned. Angela was very attentive and informative making the process from initial discussion to settlement well supported providing little useful tips along the way. Highly recommended.
Peter Doak
21:15 16 Mar 25
A lengthy process but handled very professionally throughout.Was kept up to date and each step was explained and made very easy.Would highly recommend their services and Andrew was exceptional.
Johanne Slattery
11:55 06 Mar 25
Dealing with Bill James was a pleasant and efficient process. Bill assisted me above and beyond to achieve a successful outcome.I highly recommend dealing with him and benefiting from his knowledge of the market.
Brian Hughes
06:30 05 Mar 25
Recently I had the pleasure of takeing a reverse mortage out with Seniors First for the very first time. I found Seniors First to be more than helpful to go the extra mile to take the time to explain all the aspects of doing so with them. I had the major assistance of Broker Dean Hukins who I found to be a great represenative of Seniors First and would reconmend anyone comsidering taking a reverse mortage to try Seniors First .
Barb Owen
09:47 03 Mar 25
Linda Alexander
07:12 24 Feb 25
Andrew has surpassed all expectations. It was not easy for him however he came through with flying colours. I would recommend him to anyone that needs prompt help with expert information. We thank you.
Poo Guy
21:23 19 Feb 25
Our broker Adam Oakley was fantastic. He was always prompt to answer any questions we had. Which made the process so easy.

What is a Reverse
Mortgage?

Reverse Mortgages are loans for pensioners and retirees designed specifically for older borrowers who are typical ‘asset rich’ but ‘cash poor’.

Known variously as ‘senior’s loans’, ‘reverse home loans’, and ‘senior’s finance’, Reverse Mortgages are the most popular form of home equity release in Australia.

Reverse Mortgages allow people from the age of 55 to convert the equity in their property into cash for any worthwhile purpose. No income is required to qualify. Although interest is charged like any loan, the borrower is not required to make repayments (although they can usually make voluntary payments if they wish).

What are the benefits of a Reverse Mortgage

Cash for Retirement

You can use the money for almost anything that will help you enjoy your golden years.

No Need to Move Out

Stay in your home for as long as you want.

Retain Ownership

Any potential increase in property value will still be in your name.

No Repayments Required

You may choose to pay the loan from the future sale of your home.

No Negative Equity Guarantee*

You and your home are protected subject to T&Cs.

Flexible Drawdown Options

You can access the loan as a lump sum, cash reserve, or regular income.

Why Choose Us?

  • Australia's leading Reverse Mortgage broker.
  • Access to multiple lenders for a better deal.
  • 18 years experience helping seniors release home equity safely.
  • Expert guidance to minimise interest & save money.

Others Lenders & Brokers

  • General services, not Reverse Mortgage-focused.
  • Limited product options.
  • Basic or poor knowledge of senior’s equity release.
  • Lender with higher interest rate or ineligible credit policy.
Check eligibility

Download your free Reverse Mortgage guide

(Downloaded over 20,000 times since 2008)

Get the guide

The draw down options

Seniors First offers flexible drawdown options depending on your preferences and needs.

Lump Sum Payment

Our lenders can pay you a lump sum money at the start of your loan. Policies between lenders vary, but some have a minimum drawdown for this option is of $10,000, unless you are planning to use the money for in-home aged care.

This option is ideal for debt consolidation, home renovation, new car purchase, or even a holiday.

On top of the lump sum, you can receive the proceeds as needed through the other available options.

Regular 'Income'

Receiving regular advances is ideal if you are planning to draw on your loan gradually, to supplement your retirement income. It's great if you need help covering living expenses.

This option will allow you to set a regular drawdown payment (monthly, quarterly, or yearly) for up to 10 years.

The regular amount you receive feels like 'income' but it is actually a small portion of your home equity. You can set the amount you receive from hundreds, to thousands of dollars each month. The limit is determined by the value of your home, your age and the term schedule.

Cash Reserve

You can unlock your home equity to set up a cash reserve that you can easily access anytime you want.

The good thing about this option is that you will only pay interest on the drawn amount.

Depending on the lender, there may be no minimum drawdown amount on a cash reserve facility. Some lenders even allow you to access this money directly by debit card at ATM's.

Check eligibility

Our partners

Check your eligibility

Answer a few short questions to find out if you qualify for a reverse mortgage.

Check eligibility now

Frequently asked questions

How much can I borrow?

The amount of money you can borrow from a Reverse Mortgage loan depends on the property value and age.

Once the current market value of your property has been estimated by an independent valuer (appointed by the lender), a maximum percentage called the loan-to-value ratio (LVR) is applied to that value based on the applicant's age. 

These ratios are very conservative by conventional standards, and this acts as an inbuilt protective mechanism for both the lender and the borrower.

The older you are, the higher the amount you can borrow. Some lenders will increase the Loan Value Ratio by 1% with each year lived. If you are a couple, the maximum amount you can borrow is usually based on the age of the youngest borrower.

For example, Bob is 71 and his wife Jane is 68, and both are receiving the full government pension. They've decided they want to buy a new car and take a holiday.

If possible, they also want an ongoing, additional income that won't reduce their pension.

Although they bought their home 30 years ago for $60,000, it is now worth $500,000. Based on Jane's age of 68, they can access a maximum of 18% of its current value, which means they can borrow a total of $90,000.

How much will it cost?

Allow about $1,500 – $2,000 in total to establish your Reverse Mortgage loan.

This amount includes the main costs such as the lender application fee, government charges, legal advice fees, and any broker fees. 

This is an estimate only; you could pay more depending on the circumstances. If you are low on cash, you can usually pay these Reverse Mortgage costs from the loan proceeds.

What is a credit line growth feature?

Reverse Mortgage lenders now offer a ‘line of credit’ option. 

This is a very positive development that empowers the borrower with complete control over when they take the funds and how much.

You can have all the funds available all of the time, but you attract ZERO interest until you need to use it, and then only on the money you draw. This is great for emergencies and unexpected costs.

What happens to my home when I pass away?

The Reverse Mortgage loan is due for payment when you pass away. If your estate or heirs cannot pay the loan, the lender may put the property on sale. 

Interestingly, all Reverse Mortgage lenders are now required by law to provide a guarantee that should the debt grow to such level over time that it exceeds the value of the security property realised at the sale. Neither the borrower nor beneficiaries of the estate can be pursued for this shortfall after the sale has been concluded (as long as the borrower is not in default of the loan contract).

Put simply, if the sale of the security property is not enough to cover the debt, the lender wears the loss.

In addition, the lender cannot force the borrower from the property if they think the debt may have grown to a level where a shortfall may occur.

What are the alternatives to Reverse Mortgage?

If you wish to access the equity in your home, the main alternative to Reverse Mortgage is still to sell and downsize your home. However, such a transaction will necessarily incur substantial transfer costs such as stamp duty and agent fees, and you may be required to move away from your neighbourhood into a cheaper suburb.

Other product alternatives to Reverse Mortgages are emerging increasingly.One alternative is the ‘home reversion schemes’ where you can sell a share of your home in return for cash. This may allow you to stay in your home without selling or accumulating debt.Home reversion schemes in Australia are not yet widely available. To enquire about home reversion schemes and other alternatives to reverse mortgages, complete this form.

Will a Reverse Mortgage affect my Centrelink pension?

It is possible in many cases to structure your Reverse Mortgage or equity release plan so that it does not reduce the amount of pension income you currently receive. However, the outcome will depend on your individual circumstances and Seniors First is not permitted to advise you in this regard. ALL borrowers in receipt of government pension are directed to speak with a Financial Information Services officer at a Centrelink office before applying.

Will I be able to leave equity for my children?

Some lenders offer an option called ‘Protected Equity’, which guarantees that a requested proportion of equity is preserved for beneficiaries (it also means you can’t borrow as much). If you choose a loan without protected equity, then the amount of equity you will leave will be determined by the following factors:

  • The term of the loan/how long you live
  • Interest rate movements
  • Growth rates in the value of your property

Although the interest will accumulate and compound, based on the past trends, your property should also increase in value over time, offsetting the increasing loan balance.

>