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Financial Services Loans & Advice


Traditionally people have often sold the family home to pay for entry fees (what were known as ‘Accommodation Bonds’). But with the government’s current emphasis on a ‘user pays’ system, retaining the home and using aged care finance (such as a reverse mortgage) is an increasingly attractive option.

In July 2014, the ‘Living Better Living Longer’ reforms came into force. People moving into aged care are now required to pay one of the following as an ‘entry fee’ for aged accommodation:

  • Refundable Accommodation Deposit (RAD)
  • Daily Accommodation Payment (DAP)

The ‘RAD’ is an upfront lump sum payment to the nursing home. The fee is set by the facility, and although the current average is $300,000 to $400,000, it can be much higher in some areas.

In addition, a new ‘Means-Tested Daily Fee’ has been introduced which may add significantly to your overall care costs if the house is sold. Using a reverse mortgage to fund or part-fund aged care accommodation is now a viable alternative in many cases.


Help Finance has access to some lenders who can provide reverse mortgages to pay for aged care. This allows the borrower to release up to 45 per cent of the home value (depending on age) with no requirement for regular monthly repayment, the interest is capitalised each month onto the loan balance. The amount borrowed, plus any accumulated interest (including compound interest) and fees is then repaid when the property is eventually sold.

So for pensioners and retirees who have a limited income, reverse mortgages are the preferred method for aged care finance. In some cases where self-funded retirees have enough income to service a conventional mortgage, Help Finance will recommend a home or investment loan to finance aged care & accommodation.

A reverse mortgage loan may be a good solution for aged care costs if:

  • the family want to retain the home for emotional reasons
  • a spouse or family member is still living in the home and a sale is not possible
  • the resident wants to keep the option of ‘moving back home’
  • it is a poor property market and a bad time to sell the home
  • your financial planner recommends this as a strategy to minimise your costs or improve your cash-flow


Senior’s Home Loans

In addition to loans for pensioners such as reverse mortgages, Seniors First can also help older borrowers who are still working with home loan finance.

With access to dozens of lenders and hundreds of home loan products and options, we find solutions for your specific needs and get your loan approved. We happily share our knowledge of the Australian mortgage market with valuable information to help you get started, and we’ll guide you through the entire process from start to finish.

Home Loans for over 55’s

Since the introduction of the National Consumer Credit Protection (NCCP) regulation regulation in 2010, people over 55 years often report that it is now more difficult to obtain a home loan mortgage for refinance or purchase.

For these senior borrowers, mortgage finance can be a complex financial maze that is tricky to navigate. Depending on your situation, some banks and lenders may be better than others. Although every transaction has its own unique challenges, Seniors First has lots of experience in obtaining mortgage approval for older borrowers seeking to refinance, release home equity, or to purchase a new property.

Benefits of working with Seniors First for your home loan

  • We understand the needs of older borrowers
  • Good success with loan approval for senior’s home loans
  • We instantly connect you with a wide range of banks and lenders
  • Highly skilled professionals with years of lending experience

For those borrowers who are  fifty five years of age and over and are seeking a home loan or investment loan, contact us on 1300948454


If you are retired, or approaching retirement, you may think that along with the end of full-time work all the big financial decisions are behind you.

However nothing could be further from the truth. Some of the biggest financial challenges a person is ever likely to face now occur in the final 30 to 40 years of life:

  • Planning finances for a comfortable retirement
  • How to pay out your mortgage before you retire
  • Reduced income in transition to retirement
  • Managing your superannuation effectively
  • Estate planning
  • Entry to aged care and funding aged care costs

In many of these circumstances, there is a strong need for good financial advice. To assist our customers, we  work with a a small network of financial advisers around who specialise in aged care financial advice in NSW, QLD, VIC, WA and SA.

Request a referral to an aged care financial adviser – call 1300 948454.

Perhaps the financial challenge that looms largest for seniors is aged care.

With the implementation of the Living Longer, Living Better reform on July 1, 2014, aged care facilities must enforce tighter means testing on aged care and accommodation costs. The importance getting good information and considering all the options weighs more heavily than ever before. You and your family simply cannot afford to make uninformed decisions.

Effective financial planning for aged care includes practical and helpful advice on how you can pay aged care entry fees and accommodation fees such as:

  • Refundable Accommodation Deposit (RAD)
  • Daily Accommodation Payment (DAP),
  • Means-tested care fee

An experienced aged care financial planner may assist you with advice and strategies that:

  • Improve your cash flow
  • Minimise aged care costs
  • Help fund your aged care fees

We  work with a a small network of financial advisers around who specialise in aged care financial advice in NSW, QLD, VIC, WA and SA.

Request a referral to an aged care financial adviser – call 1300 948454.

Peter Adams

These guys are honest and upfront and did a great job helping us out. Thank you very much.

Louie Fogarty

CEO, Front End Designer

After my husband passed I did not know how I would get by. My son listed the help of the loverly people at Seniors Reverse Mortgage and I was so helpful for the service that they provided me. They explained everything in plain language and I was comfortable that every thing I signed was in my best interest.