Reverse Mortgages

Homefree Mortgages now offers Reverse Mortgages for select clients.

A reverse mortgage (RM) generally allows applicants 60 years and over to borrow money to fund their lifestyle, using the existing equity in their home as security.

You also remain the owner of your house and may live in it as long as you like, with no repayments required. Interest then compounds and adds to your loan balance, unless a trigger event occurs, which could be the death of the owner(s), the last borrower selling the property or breach of specific clauses.

The reverse mortgage loan balance will need to be repaid in full, including interest and any ongoing fees, once one of these trigger events occurs..

This option is not for everyone, so give us a call to see if this option is right for you.