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The New Daily
The New Daily
Craig Sankey

Ask the Expert: Switching to reverse can work, but get advice first

It's important to seek personalised advice before choosing a reverse mortgage. Photo: Getty

Question 1. I am asset rich and cash poor. I own my own house and live on a superannuation pension. Are there any loan options using the house as security, apart from a reverse mortgage. I don’t like compounding interest.

As well as your super pension, are you also eligible for the age pension? This is, of course, a valuable part of most individuals’ cash flow in retirement once they attain age pension age.

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