No, this is totally false. Typically, Reverse Mortgage rates are 3.00%-3.50% higher than standard mortgages. They are slightly more expensive because of the risk to the lender that the loan may never get repaid. Considering that these lenders never ask you for monthly loan repayments, this higher interest rate is pretty fair.
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Planwise AU Pty Ltd trading as UNO Home Loans ABN 81609882804 Australian Credit Licence Number 483595. UNO values your privacy and last updated our Privacy Policy on 29 January 2020. L17, 123 Pitt Street, Sydney NSW 2000
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