What our customers say about us

Thanks for all your help and for making it so easy for me. Life will be so different now.

Jan Vincent
Montrose, VICTORIA

Thank you for your time on the phone yesterday and copying me into the below email.
I just wanted to take the time to say that I have never seen such a comprehensive email provided to clients by a Broker before. Very clear and detailed.
I hope it’s ok that I hold onto your details to refer to clients who may need assistance.
Kind Regards,

Shannon Oatley
Director & Licensed Conveyancer
Property Conveyancing Group, VICTORIA

We have found Barry Le Brocq of Melbourne Mortgage Finance to be very patient, caring and diligent in achieving a successful outcome to our refinancing requirement. We have no hesitation in recommending his services to others.

Don & Christine Perrett
Leongatha, VICTORIA

Many thanks Barry for the exceptional service that you have provided. We will most certainly be recommending you to our daughter (Bank of Melbourne branch manager) for any future customers who need a reverse mortgage loan.

Paul & Barb Spark
Somerville VICTORIA




Normally, receipt of reverse mortgage funds is not considered taxable income. It is simply a return of the capital tied up in your home. Tax issues could arise, however, if funds are invested to produce an income or purchase an asset that may later be sold to produce a capital gain. Financial advice should always be obtained if you have concerns about taxation issues.

  • ensure that your lender is a member of SEQUAL. Senior Australians Equity Release Association of Lenders is a not-for-profit association supported by leading reverse mortgage providers in Australia . SEQUAL is responsible for ensuring that reverse mortgage lenders maintain market best practice in the development and promotion of their products to seniors
  • ensure that you obtain independent legal advice
  • ensure that you have considered obtaining independent financial advice
  • ensure that you have considered discussing your reverse mortgage plans with your family or beneficiaries
  • ensure that your reverse mortgage lender offers a “no negative equity” guarantee and an “equity protection option”
  • ensure that your reverse mortgage lender’s product allows you the flexibility to suit your future needs e.g. additional borrowings or the right to rent out your home if you travel or move into an aged care facility.

Yes. Instead of borrowing money using a reverse mortgage, some possible alternatives may exist and should be considered:

  • selling other personal assets or property
  • cashing in other investments
  • family financial assistance
  • downgrading your home and using excess sale proceeds
  • returning to work full-time or part-time

These alternatives may not be practical, particularly if other assets are of insufficient value or longer-term family assistance is not possible.

In most cases, yes. If you plan to leave your estate to your children, the value of the estate will be reduced by the balance of the reverse mortgage loan at the time of discharge. Reverse mortgage loan balances increase over time if no interest payments are made. Beneficiaries will receive the net value of the estate after the reverse mortgage loan balance and any other debts are paid out.

It should be remembered that reverse mortgages now allow seniors the flexibility of retaining the home. Retaining the home for the next generation will result in the transfer of a significant property asset which would otherwise not occur if seniors were forced to sell the property because of a lack of cash to live on.

When considering a reverse mortgage, it is essential to obtain independent legal advice and possibly independent financial advice as well. Family involvement is generally also recommended by lenders. Your personal and financial circumstances must be considered carefully before deciding to proceed.

If you currently receive a Centrelink benefit, you should be aware of any possible adverse impacts a reverse mortgage may have on your entitlements. If funds are used immediately for general consumer purposes such as travel, home improvements or clearing other debts, entitlements will usually not be affected. If you buy a car, invest borrowed funds, leave cash sitting in your account for more than 90 days or provide a large gift to a family member, then your benefits may be affected.

Speak to your Financial Information Services Officer at Centrelink to establish your position.

Legal Advice
All lenders require seniors to obtain independent legal advice from their solicitor. Loan contracts are usually sent to the solicitor you nominate on the loan application form. You should check with your solicitor to confirm that he/she is prepared to fully explain the loan terms and conditions to you, as well as sign a Solicitor’s Certificate confirming to the lender that this advice has been provided.

Financial Advice
Lenders will encourage seniors to obtain independent financial advice from a qualified financial adviser or accountant when applying for a reverse mortgage. Some lenders formally require you to do so. This is to ensure that your overall financial position is properly assessed and the decision to proceed is supported.

Family Involvement
It is important to consider discussing the reverse mortgage with your family or beneficiaries. In most instances, the repayment of the loan balance in the future will affect the value of your estate and if they are executors of your estate, they will be responsible for discharging your reverse mortgage loan balance in the future. Children will usually support your decision to proceed with a loan, especially if there is no other practical solution to your financial needs.

Melbourne Mortgage Finance offers an extensive range of mortgage products and services including

Home Loans, Investment Loans, Equity Access Loans, Low Doc Loans, 100% Loans, Refinance Loans, Commercial Loans, Deposit Bonds, Reverse Mortgages, Accommodation Bonds, Vehicle Finance, Plant and Equipment Finance, Financial Planning and Business Finance.

IMMEDIATE appointment can be made to meet at your home or office

  • NO CHARGE for assisting you. We receive a standard fee from the lender you select
  • reliable service, communication and follow-up. See “Testimonials
  • accreditation with 20 national lenders, allowing you to select from an excellent range of loans
  • we carefully listen to your needs, do our research, then present you with a short-list of three potential loan solutions. You choose the lender.
  • printouts of products, fees, interest rate and loan features are provided
  • arrange for your property insurance and personal insurance requirements to be assessed
  • ongoing availability to assist you after loan settlement
  • over 30 years experience in arranging finance and mortgage loans