Pressure on government to match super-backed reverse mortgage
By initiating the review, the government is signalling a small rate reduction for the 1100 pensioners who have reverse mortgages with the scheme. Industry superannuation funds are the underwriters of the most competitive reverse mortgage on the market, which is offered by newcomer Household Capital at an interest rate of 5.15 per cent. The government is reviewing the 5.25 per cent rate of interest charged on reverse mortgages offered through the Pension Loans Scheme. The 5.25