A Gateway Reverse Mortgage provides an alternative funding option for your retirement.

If you're over 65 years of age, a Gateway Reverse Mortgage allows you to access the value in your property without having to sell it or move out. Gateway's Reverse Mortgage provides the security of a No Negative Equity Guarantee ensuring you'll never owe more than your property is worth1.


Our Reverse Mortgage gives you the flexibility to draw down your funds when you need them. This helps to give you with the peace of mind of having approved funds available when required, while only paying interest on the money you use.

Unlike a traditional mortgage, there are no ongoing repayments and the total loan amount, including accumulated interest, is generally repayable when you move out of the property. You can choose to make repayments at any time, reducing the loan balance and interest charged.

How much can I borrow?
The amount you can borrow depends on two key factors: your age, and the value of your property.

At Gateway, the minimum age for a Reverse Mortgage is 65, at which we would lend a maximum of 20% of the value of the property (LVR). This amount would increase by 1% for every year thereafter, meaning a 75-year-old could borrow up to 30% of the property value.

Wide range of acceptable loan purposes
Our Reverse Mortgage can be used for a wide range of purposes, whether it be living costs, renovations, holidays, medical costs, refinance and/or consolidation of multiple debts.


Key benefits include:

We will require you to have received independent legal advice to ensure you understand all the elements of a reverse mortgage and we strongly recommend that you seek independent financial advice regarding the product. We also recommend discussing the product with your family and any beneficiaries as a reverse mortgage will impact any potential inheritance from the sale of the property.


Want to know more about Reverse Mortgages? See our full explanation of what a Reverse Mortgage is and how it can help your financial situation.


Submit Your Application
Want to apply for a Reverse Mortgage? Simply download the application below or apply online. You’ll need to following supporting documents to complete this application:

  • Medicare Card PLUS Drivers Licence or Passport
  • Last 3 months’ of transactional account statements from the financial institutions where income is paid. The most recent should be no older than a month
  • The latest statement from any loan you currently have
  • If you have a credit card the last 3 months’ statements for the card(s)
5 year introductory rate 5.09 % p.a. Interest rate 5.68 % p.a. Comparison rate


Want to know more?

Product Features:

Reverse Mortgages
Interest Rate : 5.09% pa
Comparison Rate : 5.68% pa
Settlement fee : $995
Additional valuation fee : At cost
Annual fee : $0
Monthly fee : $0
Mortgage discharge fee : $300
Additional repayments accepted : Yes
Additional repayments fee : $0
ATM/EFTPOS access : Yes
Online and Phone Banking access : Yes

Having trouble deciding what's right for you?

Use our comparison tool to help find the best home loan for you.

Loan Repayments Calculator

Gateway reserves the right to vary these interest rates at any time. Applications for finance are subject to our standard credit assessment criteria. Full terms and conditions are included in the loan offer. Fees and charges apply.

After the 5-year introductory period the interest rate reverts to an ongoing variable rate, currently 5.99% p.a. Rate is subject to change.

Comparison rates are calculated based on a loan amount of $150,000 over a 25-year term. WARNING: Comparison rates are true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Applies to standard single residential dwellings to $1 million in Metro locations and $500,000 in Regional locations (maximum land area 2.2ha/5 acres). An additional valuation fee may apply for non-standard properties.

1 Negative equity protection will not apply if we determine, acting reasonably, that you engaged in fraud, or made a material misrepresentation, relating to your loan before, at, or after the time your loan contract was made.

2  Refer to our General Fees, Charges and Transaction limits. You should consider if a; Visa Debit Card, Online Banking, or Reverse Mortgage is right for you.

3 If property valued at under $1m in metro locations and $500k in regional locations with a maximum land area of 2.2ha/5 acres. Any additional valuation costs incurred for a non-standard property are payable in addition to the Settlement Fee.

4 Loan variation fees may apply when changing the structure of an existing Gateway Loan, such as a top up.

5 A Discharge fee is payable when discharging your mortgage with Gateway.

6 For other fees, view our Loan Accounts Fees and Charges.


  • 1 5 Year Introductory Rate