MELBOURNE MORTGAGE FINANCE LENDING UPDATE – September 2025
- Barry Le Brocq
- Sep 23
- 2 min read
Melbourne Mortgage Finance specialises in Reverse Mortgage lending and assists brokers, accountants and financial planners who do not offer these loans. Referral fees are available and are fully disclosed to customers at application stage.
Typical Loan Structure
upfront drawdown to pay out existing debts (mortgage balances, credit card debts) and other immediate needs
monthly drawdowns of smaller amounts to supplement Centrelink pension income
establishment of a Cash Reserve fund which is available for future drawdown when required
Supporting Documents Required for a Normal Application
copy of photographic ID for each applicant (and Power of Attorney if applicable)
copy of latest annual council rates notice
copy of building insurance policy
copy of full bank statements for transaction account (showing income received over last 3 months)
copy of loan statements for any debts being paid out (over the last 3 months)
copy of completed mortgage Discharge Authority form for any mortgage debt being paid out
copy of Enduring Power of Attorney agreement (if applicable)
Minimum Age Requirements
average age of reverse mortgage applicant is 72
at least one applicant must be 60 or more
second applicant may be 55 or more, but maximum LVR will be reduced in these cases
Current Interest Rates
8.35%: where no interest payments are made
7.85%: where half interest payments are made monthly
7.35%: where full interest payments are made monthly
interest is charged only on funds actually drawn, but not on funds held in a Cash Reserve fund
Loan Establishment Fee
a flat $950 (including valuation fee) for security properties valued up to $2m.
if the property is worth more than $2m, an additional fee of $950 is charged for valuation report
customers are required by law to obtain independent legal advice from their solicitor before signing loan contract
General Eligibility Requirements
one of the borrowers must be 60 or more
security property value to be greater than $600,000 and located in metropolitan and major regional areas
acceptable properties: primary residence, units, holiday homes, investment properties (vacant land, commercial properties,
retirement village units, properties held in the name of companies or trusts are not accepted)
Call on 0437417042 or email barry@mmfinance.com.au to discuss individual scenarios.
Referral fee (15% of 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 at September 2025)
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