Home > Personal Banking > Loans > Reverse Mortgage Loan

Reverse Mortgage Loan

The loan that offers you a richer more rewarding retirement without the need to sell your home.

If you're aged 65 or over, a Coastline Reverse Mortgage Loan can give you a richer more rewarding lifestyle in retirement - without the need to sell your home!

Growing numbers of today's retirees are being described as having a "savings shortfall" in retirement. Simply put, they may own their own home - but struggle to pay bills, enjoy a decent lifestyle or have any spare cash for emergencies.

Until recently, solutions to this problem were limited to selling the family home or other valuable assets, permanently downgrading their lifestyle to reduce daily expenses, or reluctantly returning to the workforce.

If this sounds like you - Coastline have a better solution!

Reverse Mortgage Loan in a Nutshell*

• Release up to $120,000 of equity value in your home
• No regular loan or interest repayments until your home is sold or you permanently vacate
• Loan available as lump sum
• You maintain full ownership of your home
• No penalty for voluntary loan repayments or early repayment
• Variable interest rate
• Free Loan Redraws
• No Negative Equity Guarantee.

Use your released funds to...

• Supplement your regular income
• Treat yourself to a new car
• Relax on a well-earned holiday
• Visit friends and relatives overseas
• Home improvements
• Pay-out of existing debt
• Support for your kids and grandkids
• Medical expenses or long-term care.

Simply release some of the cash value locked up in your home with a Coastline Reverse Mortgage Loan. This type of loan differs from most mortgages in that no regular loan repayments or interest charges are due whilst you are living in the home. The loan plus all interest and fees, only become due when you permanently vacate or sell your home.

If you feel that a Coastline Reverse Mortgage Loan would make a major difference to the quality of your retirement, contact us and we'll be pleased to go through the full details with you.

* Minimum lump sum loan $10,000. Terms, conditions, fees, charges and Credit Union lending criteria apply.