QUESTION:
I recently heard part of a radio story about a very low interest reverse mortgage issued by the government, which is apparently available to high income earners. Do you know of this scheme, or where can I access further information?
ANSWER:
There was talk of a government backed reverse mortgage when the aged care reforms were publicised. At this stage the only tool is the Pension Loans Scheme. If you would like to read about this scheme in more detail, have a look at the Department of Human Services website http://www.humanservices.gov.au/customer/services/centrelink/pension-loans-scheme/print