What are your legal obligations under a reverse mortgage?

by Darren Moffatt 1 March 2013

In my experience dealing with retirees looking to release equity from their home, senior borrowers are often concerned about their legal obligations under a reverse mortgage contract. Some of the questions people ask are: Can the bank sell up the home at anytime? Will I leave a debt to the children? What happens if the […]

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New year brings a new need for reverse mortgage

by Darren Moffatt 21 January 2013

I’ve been doing reverse mortgages and equity release for Australian seniors for nearly eight years now. That’s a long time! One consistent trend I’ve noticed  is the surge in phone calls that always occurs in January. It happens every year: the phone rings hot in the new year with people making fresh enquiries about how […]

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SEQUAL lauded by seniors

by Darren Moffatt 26 November 2012

Last week the industry body for reverse mortgage and equity release, SEQUAL, was awarded  ‘The Most Outstanding Over 50’s Public Policy Advocate in Australasia’ by the Over 50`s Housing Industry Association at its International Conference in Melbourne. In accepting the award, SEQUAL Chairman, John Thomas, said he “…was honoured to accept the award and was very proud of […]

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Banksia collapse bad for senior borrowers

by Darren Moffatt 19 November 2012

As was reported in the mainstream press recently, non-bank lender Banksia has gone into voluntary administration and is no longer lending. This is bad news for senior borrowers as Banksia was one of the very few new reverse mortgage lenders to emerge since the GFC cut a swathe through lender numbers in 2008. Although reverse […]

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Fact sheets a winner for reverse mortgage borrowers

by Darren Moffatt 7 June 2012

Recently, as part of phase 2 of the National Consumer Credit Protection (NCCP) act, it became a requirement for lenders to issue ‘fact sheets’ on their loan products. These fact sheets are short, easy-to-read documents that summarise the following: key features of the loan product all likely fees and charges that will apply eligibility criteria […]

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Reverse mortgage demand to soar?

by Darren Moffatt 20 April 2012

Hi there, Over the last few weeks there has been increasing media speculation that the Federal Government will be encouraging seniors to use reverse mortgages for aged care funding in the coming May budget. If so, we can probably expect the demand for these loans to take off.  Check out a video interview here I […]

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Reverse mortgages the key to May budget?

by Darren Moffatt 11 April 2012

I was interviewed yesterday on this topic yesterday, the full transcript appears below. Regards, Darren The government appears set to lend its support to the reverse mortgage market, but the industry may not be able to meet an influx of demand. News Ltd has claimed the Federal Government is set to urge retirees to adopt […]

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Banks to fund aged care reverse mortgages?

by Darren Moffatt 6 February 2012

An interesting article appeared in the Sunday Telegraph this weekend. It claimed that in response to the recent Productivity Commission report  recommending that government establish a home equity release scheme to fund aged care costs, that “…a market-based lender is the more likely outcome than a government-backed scheme”. Given the huge pressures already on federal […]

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A brief reverse mortgage tutorial

by Darren Moffatt 17 November 2011

I recently did a television interview on the subject of reverse mortgage finance for seniors with Yahoo 7. You can find it here. It’s a quick, handy insight into how reverse mortgages work, and the “do’s and don’ts” of these loans. If you have any further queries, you can email me directly [email protected] or call […]

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Locked out older borrowers getting really angry

by Darren Moffatt 2 November 2011

I was recently interviewed for the article below & am keen to hear from any people this may have affected. Post your comments below or email directly at [email protected] Regards, Darren Vast changes to the reverse mortgage market in tandem with the recent NCCP introduction is leaving a large pool of older borrowers without acces […]

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