Reverse Mortgage Access
OverdraftsData Sharing Status
Reverse Mortgage Access
- From (owner occupied)
- 8.75%
- 8.83% comparison
Interest Rates
| Type | Rate | Comparison | Applies To |
|---|---|---|---|
| Variable Reverse Mortgage Home Loan (<=55% LVR) | 8.75% | 8.83% | — |
Fees
| Fee | Type | Amount |
|---|---|---|
| Settlement Fee Settlement Fee includes application, legal and standard valuation fees (if property valued under $1m in metro locations and $500k in regional locations with a maximum land area of 2.2ha/5acres) Any additional valuation costs incurred for a non-standard property is payable in addition to the Settlement Fee | Upfront | $995.00 |
| Top-Up Fee Payable at settlement when increasing loan borrowings | Event | $200.00 |
| Switch Fee Switch Fee | Event | $150.00 |
| Security Variation Payable if Gateway agrees to vary the security on an existing loan | Event | $200.00 |
| Discharge Fee - First Security Discharge Fee - First Security | Exit | $300.00 |
| Discharge Fee - Per Additional Security Discharge Fee - Per Additional Security | Exit | $95.00 |
| Valuation Fee |
Features
- Card access — Link a Gateway Visa Card, giving you the freedom of EFTPOS and ATMs across Australia
- Link a Gateway Visa Card, giving you the freedom of EFTPOS and ATMs across Australia
- Digital banking
- Access is available to online banking features for the product
- Unlimited transactions
- Unlimited extra repayments
Eligibility
- Minimum age — 18 years
Constraints
- Maximum limit — $2,000,000.00
- Maximum LVR — 5500%The max LVR is 20% with an age of 65. The maximum LVR of a reverse mortgage increases 1% with each year of the borrower's age
- Minimum limit — $50,000.00
More Information
Published by Gateway Bank under the Consumer Data Right · Last updated 1 July 2026 · Product ID 171 · View on CDR.gov.au