Inviva vs reverse mortgages in Australia: Providers side by side
Here is a quick look at Inviva’s Home Equity Release Loan vs other reverse mortgage providers in Australia.
What an Inviva loan has in common with a standard reverse mortgage
Inviva's Home Equity Release Loans have all the key features of a standard reverse mortgage, allowing you to free up part of the value of your property without having to sell it.
No repayments until the end of the loan
With an Inviva loan, you aren't required to make any interest or principal repayments until the end of the loan. However, you have the option to make repayments at any time and to redraw those funds at a later stage if you choose to do so. Because interest is added to your balance over time, the loan reduces the equity in your home, so it helps to understand the equity projections before you decide.
A no negative equity guarantee on every loan
It also comes with a no negative equity guarantee, which means you can never owe more than the market value of the property. This protects you and your estate if property values fall.
Where Inviva differs from other reverse mortgage providers
When you compare a reverse mortgage provider, the age you can borrow from, the properties it accepts and the fees it charges tend to matter most. Our key differences include:
Lending from age 55, not 60
Unlike some other reverse mortgage providers, we will lend to borrowers aged 55 to 60. This gives borrowers in their late 50s access to their home equity, for example, to pay out an existing mortgage or cover medical costs.
No early repayment or break fees
Inviva charges no early repayment or break fees. You can repay all or part of the loan at any time, for example, if you sell the property or receive an inheritance, without a penalty.
Redraw on voluntary repayments
If you make a voluntary repayment, you can redraw those funds later. For example, if you repay $20,000 after selling a car, you can draw that amount again when a new expense comes up. Interest is only charged on the funds while they are drawn.
Check how much you could borrow with Inviva
Use our Home Equity Release Calculator to get an estimate in under 60 seconds. You can also read more about how reverse mortgages work or explore the Home Equity Release Loan. As a reverse mortgage provider, our team can talk you through how these features apply to your situation, and we recommend independent financial advice before you decide — get in touch.
