Legal Advice

Reverse Mortgage Loans

Sunshine Coast | Brisbane | Queensland | Australia wide

Queensland Legal offers legal advice for reverse mortgage borrowers across Australia, ensuring they understand the terms and implications of this unique equity release product. This service is crucial for those over 60 looking to access home equity without monthly repayments, with the loan and interest repaid upon the home’s later sale. We can facilitate this process remotely, accommodating electronic signings and video consultations, making it accessible across Australia. We offer fixed fees and tailored legal advice to meet lender requirements.

We are now providing this service via RMA Australia, and exclusively online, and by remote videoconference.

Please visit that website for more information and to book online.

A reverse mortgage is a home loan that lets over 60’s access part of the equity they have in their home. If they own their property outright they can borrow against the value of their home and receive funds in a variety of different forms, be it a lump sum of cash, a line of credit or a recurring monthly payment.

The difference with a conventional home loan, is that no monthly repayments are required. Interest will continue to accrue on the loan, but is compounded onto the loan amount monthly.

When you sell, move out, or die, the sale proceeds pay the balance of the loan, all interest, fees and charges.

Because of the nature of the loan, a borrower must usually see a lawyer to obtain legal advice on the effect of these reverse mortgages and the risks involved.

Subject to the lenders approval of electronic signing, we can undertake things entirely remotely. Alternatively, we can provide advice over video link and exchange the document by express post. As such, we can offer this service to reverse mortgage borrowers Queensland wide