A Gateway Reverse Mortgage allows you to access the value in your property without having to sell it.

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 acts like a line of credit; you will receive an approved limit and can choose when and how you access your funds. Meaning you only pay interest on the money you use and you can access funds within your limit as you need them.


The total loan amount, including accumulated interest, is generally repayable when you move out of the property. Though, you can choose to make repayments at any time, reducing the balance and interest charged.


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


Benefits include:

  • Flexibility to make drawdowns and repayments when needed
  • Access your funds through Online Banking, Phone Banking, and a Visa Debit Card 2
  • No annual fee or ongoing loan administration fee
  • No minimum or maximum loan term
  • Credit limit up to a maximum of $1,000,000 (minimum: $50,000)
  • One-off settlement fee of $995, which includes application, legal and valuation fees 3,4,5
5 year introductory rate 5.09 % p.a. Interest rate 5.68 % p.a. Comparison rate


Want to know more?

Product Features:

Reverse Mortgages
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

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

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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.

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.