MELBOURNE MORTGAGE FINANCE LENDING UPDATE – August 2026
Melbourne Mortgage Finance specialises in arranging Reverse Mortgage loans for over 60s. Please call if you wish to obtain loan details or check loan eligibility for any of your senior clients.
Funding for Aged Care
funding for in-home care: monthly payments and/or a Cash Reserve facility for future needs
funding for access to an aged care facility: monthly payments and/or lump sum advance
maximum loan calculation is based on applicant age and property valuation
How Much Can I Borrow?
borrowers must be 60 years or older
at 60, maximum is 20% of property value, increasing by 1% each year thereafter
at 70, maximum is 30% of property value
at 80, maximum is 40% of property value
at 90 or more, maximum is 50% of property value
Features of Reverse Mortgage Loans
minimum loan $50,000 / maximum $5m
standard variable rate currently 8.85% if no repayments are made (lower rates offered with repayments)
interest is charged only on funds actually drawn
funds held in Cash Reserve can be drawn at any time
flat establishment fee is normally $950 / no monthly or annual fees
average age of applicants is 73 / average Credit Limit is $300,000
acceptable security properties: residence, holiday house or rental property / minimum value $600,000
Flexible Uses for Reverse Mortgage Loans
paying out existing debts / 30% of retirees still have high repayments on mortgage debt
paying out family loans
cash out for immediate needs: medical, travel, new vehicle
establishing a monthly income stream to top up pension income
paying for renovations or building a granny flat without using up remaining super funds
setting up a Cash Reserve which can pay for future unexpected needs
funding access to an Aged Care facility
assists with divorce settlements where one person is retaining the property
purchase of an established property
provide funds for gifting to children or grandchildren (subject to lender assessment)
Advantages of Reverse Mortgage Loans
enables family home to be retained / selling and downgrading can easily cost $100,000
allows borrowers to remain in their own home, neighbourhood and community groups
peace of mind knowing that debts can be cleared and a Cash Reserve fund can be established
banks don’t want to help seniors, but Reverse Mortgage lenders do
they offer simple solutions to many problems associated with aging and retirement
guaranteed lifetime occupancy for both borrowers or a surviving spouse
provides funds for applicants who are living longer
no credit scoring or loan servicing capacity testing
Borrower Safeguards
detailed product guides are provided to borrowers
family members welcome to participate in loan application process
lender makes mandatory call to borrowers to ensure correct understanding of product
mandatory legal advice from family solicitor when loan contract is signed
For more information or to discuss your individual scenario, please call 0437417042 or email barry@mmfinance.com.au. A referral fee of 15% of the normal up-front commission is available.
Barry Le Brocq (B. Ec. / Dip. Fin. Services)
Melbourne Mortgage Finance (Reverse Mortgage Loan Specialist)
Mobile: 0437417042
(Information is correct as of August 2026)
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