Yes. Reverse mortgage lenders will require that you provide your Certificate of Title as security for the loan. This is normal mortgage lending procedure and must be done at the time the loan is settled. The lender will then register a first mortgage over the property. When your loan is fully repaid, the lender’s mortgage will be discharged and the Title returned to the borrowers or their estate.
Jan Vincent
Montrose, VICTORIA
Shannon Oatley
Director & Licensed Conveyancer
Property Conveyancing Group, VICTORIA
Don & Christine Perrett
Leongatha, VICTORIA
Paul & Barb Spark
Somerville VICTORIA