Reverse mortgages and other retirement lending products let homeowners aged 60 and over draw on the equity in their property without selling or making regular repayments. The loan, plus interest, is repaid when the home is eventually sold, usually after the borrower moves into care or passes away. In Melbourne, this category also covers related retirement finance work: home equity access schemes, downsizer loans, aged care funding (bridging finance for Refundable Accommodation Deposits, for example), and lending structured around pension or superannuation income. We've listed 61 businesses in this space across the city, ranging from specialist retirement lending advisers to full-service mortgage brokers who handle these loans alongside standard home lending.
What to look for in a broker
Because these loans compound over long periods and reduce the equity left in the home, the broker's job is as much about explaining risk as it is about finding a rate. A good adviser will walk through the government's Pension Loans the team as an alternative, explain the "no negative equity" guarantee that applies to accredited reverse mortgage products, and make sure you understand what happens if you move into aged care or want to sell early. They should also be willing to involve family members or an independent solicitor in the conversation, since reverse mortgage contracts require independent legal advice before signing in Australia.
How we score brokers
Our rankings weigh experience with retirement-specific lending, clarity of advice, responsiveness, and verified client feedback, not just loan volume. For the full rundown of every broker in this category, including how they compare on these measures, see our ranked guide to Melbourne mortgage brokers. Details on how we calculate scores are on our methodology page.
