What is a Reverse Mortgage?

A reverse mortgage is a loan secured by your property, but you do not need to make any repayments (capital or interest) until you leave the property. You then have a further 12 months to pay us back.

RBS' Reverse Mortgage offers:

• Competitive Variable Interest Rates
  
  
• No Monthly Fees or Charges
  
  
• No Maximum Limit. You have the opportunity to borrow an unlimited amount - from a minimum of $20,000 upwards - against the value of your home, dependent upon meeting our requirements
  
  
• The protection of both a No Negative Equity Guarantee and the option to protect up to 25% of the equity in your property for your heirs
  
  
• Maximum Flexibility in how you receive your loan. You can choose between our lump sum, flexible draw and monthly income options.
  
  

A Reverse Mortgage provides you with the opportunity to use the equity you have built in your home over the years to do a whole range of things you might still want to do - help the grandkids with their uni fees, renovate the house, buy a better car, take a holiday, or ease a bit of the worry of your present day-to-day living.