It's time to do you.

Achieve more financial freedom to live your best years the way you want to, with an Express Reverse Mortgage. Simply apply online and you could access up to $50,000 of your home’s equity at a market-leading interest rate.

A couple living their best lives in retirement with an Express Reverse Mortgage. Variable interest rate of 6.30% and comparison interest rate of 6.32%
Variable Interest Rate 8.40 % p.a.
Comparison Rate 8.42 % p.a.

*A comparison rate includes the interest rate as well as certain fees and charges relating to a loan. Comparison rate is based on a secured loan of $150,000 over a term of 25 years. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

What is an Express Reverse Mortgage?

A reverse mortgage is a home loan designed for people (aged 60 or over) who are looking to access some of the equity tied up in their home without needing to sell up or move out, helping them fund the lifestyle they deserve. Unlike a normal mortgage, regular repayments (loan or interest) aren’t required, and the total loan amount is only payable when you sell or permanently leave your home (including when you pass away).

Our Express Reverse Mortgage is a simplified and streamlined version of a normal reverse mortgage designed for those with homes worth $400,000 or more. It offers an easy online application, a loan of between $20,000-$50,000 as a lump sum amount, and a market-leading reverse mortgage variable interest rate. Whether you’re needing a loan to consolidate debts, make home improvements, go travelling, help family, or even buy a new car, an Express Reverse Mortgage could help you live your best life.

Download our Product guide

Why choose Express?

Market-leading variable interest rate

Our online application allows us to offer the lowest variable reverse mortgage rate in Australia.

No negative equity guarantee

The amount you owe us will not be more than the net sale proceeds of your property.

Your loan, your choice

Funds can be used for almost anything that helps you live out the lifestyle you want.

Forget regular repayments

You don’t need to make any loan repayments until you sell or leave your home, but you’re welcome to do so without penalty if you ever want to.

Lifetime occupancy guarantee

Your home continues to be yours, and you can continue living in it for as long as you want to.

30-day cooling off period

If you change your mind within 30 days, simply repay the loan and we’ll refund your settlement fee, interest and the standard cost of a valuation.

Subject to complying with the terms and conditions of the Express Reverse Mortgage, you will not owe more than the net sale proceeds of your home and you can keep your home for as long as you choose.

Your Express Reverse Mortgage journey

Apply online

Fill out our straightforward online application. We’ll then review your eligibility, which includes your age and the location, construction and value of your property.

Property valuation

If your application passes this initial review, we’ll request a valuation of your owner-occupied home to ensure it meets our criteria.

Approval

After reviewing the valuation report and your application, we’ll call you to ensure the loan is suitable for you and for us – if so, we’ll make you a loan offer.

Settlement

The loan documents will be sent to your solicitor, as you must receive independent legal advice. Once the documents are signed and returned, we’ll pay out the funds, and you can use them to live life the way you want to!

Express Reverse Mortgage costs and considerations

There are a few things to consider before taking out an Express Reverse Mortgage.

  • Once you move permanently from your home, the entire loan balance (including fees and interest) will be payable within 12 months (or immediately on sale).
  • Interest is calculated on the daily balance outstanding and added monthly to your loan account, meaning your loan balance will increase over time.
  • Variable interest rates mean that the interest rate charges will change over time.
  • There are fees and charges for setting up the loan.
  • Independent legal advice is required and independent financial advice is recommended.
  • We recommend involving family in the decision, and you should take into consideration your future needs (and future use of your home equity) before proceeding.
  • We recommend you complete a loan projection through ASIC’s MoneySmart Reverse Mortgage Calculator before applying. This allows you to see what unlocking some equity from your home now could mean down the road, both in terms of the changes to the loan and your future property value.

Got questions?

The minimum loan amount is $20,000, and the maximum is $50,000.
To be eligible for an Express Reverse Mortgage, the youngest borrower must be aged 60 or over. Your property must be:
  • owned individually or jointly by the borrowers who are applying (not by a trust or company)
  • owner-occupied
  • located in a capital city or major metropolitan or regional centre (you can start your application to see if you are eligible)
  • of a value of $400,000 or more
  • mortgage-free, or if there is a mortgage outstanding, it must be able to be repaid with your Express Reverse Mortgage (i.e. $50,000 or less owing)
Once you apply, we’ll review your application and circumstances in full against all of our credit criteria.
For us to establish the value of your home, we’ll arrange for a registered valuer to visit your home to assess its value and provide a valuation report. We’ll provide you with a copy of this assessment. There is a valuation fee payable to have your home valued, and we can charge a credit card or deduct it from your loan amount on settlement. If your loan does not proceed, payment will still be required.
Yes, you will continue to maintain ownership of your home for as long as you want to. The loan won’t be repayable until you sell the house or move out (such as if you move into long-term care or pass away).
You don’t need to make any loan repayments. Interest is calculated on the daily balance outstanding and added monthly to your loan account, meaning your loan balance will increase over time. Once you move permanently from your home (including when you pass away), the entire loan balance (including fees and interest) will be payable within 12 months (or immediately on sale). The loan is usually repaid from the sale proceeds of your home, and the balance is then retained by you or your estate.

You don’t need to make any loan repayments until you sell or leave your home, but you’re welcome to do so without penalty if you ever want to.
An Express Reverse Mortgage can’t be transferred to another property. If you move house, the loan will need to be repaid on sale. If your new property meets our criteria, you may be able to apply for a new Express Reverse Mortgage.

Ready to apply?