ASF have recently announced that they have suspended a number of product offerings indefinitely.
They will no longer be offering their ’50’s Plus’ product, where borrowers under 60 can still access funding as long as they service the interest until they turn 60. There is still one Australian lender who will do reverse mortgage for people as young as 55. For more info go here or to Seniors First.
In addition, ASF have also ceased their retirement village reverse mortgage. Although this had a very limited take up in Australia, it was thought to hold a lot of potential for future growth.
{ 2 comments… read them below or add one }
Is there any one that I can contact about getting a reverse mortgage at the age
of 60.
Really desperate !
Thanks
Deb
Hi Deborah, yes there are two options: if you are in WA you could approach the Police & Nurses Credit Union. If elsewhere in Australia, try Australian Senior’s Finance. DM