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Older home-owners and reverse mortgage products: what are the implications for retirement decisions during an economic downturn?

11th Australian Social Policy Conference, An Inclusive Society? Practicalities and Possibilities

Author: Bridge, C., Phibbs, P., Adams, T., Mathews, M.
Year: 2009
Type: Conference Proceedings


Reverse mortgages are technically available to home-owners who are 60 years or older. Older home-owners can borrow between 15% and 40% of the value of their home. Residential property represents the largest single asset class of older Australians with a potentially large market potential. However the Reverse Mortgage market has suffered with the international capital market crisis making liquidity difficult. This paper reports on the results of a research project funded by the Australian Housing and Urban Research Institute into ‘Reverse mortgages and older people: Growth factors and implications for retirement decisions’. It covers the beliefs of lenders, reverse mortgage practitioners and older borrowers in terms of what they belief to be growth factors. The research integrates findings from a systematic international literature review, online survey with mortgage practitioners, older persons focus groups and interviews with bankers and older people across New South Wales, Queensland, Western Australia and Victoria. Understanding the policy implications was a specific focus of the research.

Further Details

Publish Dates 8-10 July
Publish Location University of New South Wales

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