P&N BankReverse Mortgage Home Loan
A reverse mortgage allows you to draw upon the equity in your home to fund living expenses, health expenses or to simply live a more comfortable retirement.
At a glance
- Max LVR
- 35%
- Features
- redraw, extra repayments
Rates
The one rate P&N Bank publishes for this home loan.
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| Variable | Owner occupied, Interest only | - | - | 9.25% | 9.28% | Rate available to existing customers.; Rate available for new accounts.; https://www.pnbank.com.au/home-loans/specialty/reverse-mortgage/ |
Rate changes
One change logged, newest first.
| Date | Rate | Was | Now | Change |
|---|---|---|---|---|
| 14 Oct 2026 | Variable, Owner occupied, Interest only | 9.00% | 9.25% | up 0.25 |
Each change is logged the night it appears in the rates P&N Bank publishes. See how every lender answered the RBA on the rate tracker.
Fees
19 fees published, grouped by when they're charged.
- When you take it outUp to $3003 fees, each listed below
- While you hold itNo fee published
- When you close it or pay it offUp to $3952 fees, each listed below
When you take it out3
- Document Preparation Fee
Fee for preparation of loan contracts charged at the time of funding or settlement of the loan
$300 - Loan Establishment Fee
No fee for establishment or top-up of the home loan.
No fee - Valuation Fee
First valuation is free. Additional valuations are charged to you at the cost we have incurred.
No fee
If a payment is late or fails1
- Default Notification Fee
Payable at cost when we issue a default notice because you are in default under the contract.
Varies 46 days after it's due
When particular things happen5
- Title Consent Fee
Payable when we are requested to consent to a change relating to your title.
$150 - Withdrawal of Caveat Non-Settlement Fee
Without settlement per document. When we are requested to remove a caveat lodged on a title.
$55 - Withdrawal of Caveat Settlement Fee
With settlement per document. When we are requested to remove a caveat lodged on a title.
$160 - Statement Retrieval Fee
Fee applies for statements over 12 months old. Payable on request to issue a copy of a previously issued statement.
$2.50 - Loan Contract Variation Fee
Charged when we process a variation of your contract or any security such as; substitution, partial release, additional or transfer of security, amendment to the term of a loan or a loan account.
$250
When you close it or pay it off2
- Discharge of Mortgage Non-Settlement Fee
Charged for the preparation of documents for the discharge of mortgage where no settlement is required.
$350 - Discharge of Mortgage Settlement Fee
Charged for the preparation of documents for the discharge of mortgage in relation to a settlement.
$395
Other fees8
- Default Interest Rate
A default rate may be charged on any overdue amount if you fail to pay the amount due under the loan contract by its due date. The default rate is 2% per annum above the Annual Percentage Rate applyi…
Varies - GOVT Discharge of Mortgage
This fee is payable to the bank in reimbursement of Government charges relating to discharge of mortgage on the security property. Amounts are set by the land titles office by each state or territory.
Varies - GOVT Registration of Mortgage
This fee is payable to the bank in reimbursement of Government charges relating to registration of mortgage on the security property. Amounts are set by the land titles office by each state or territ…
Varies - Legal Fee
Payable at cost when legal advice or services are required over the life of the loan.
Varies - Property Exchange Australia (PEXA) Charges
Payable when we have to register or release of any documents relating to a security electronically, request information or we process a financial settlement using PEXA. Fees are applied as charged by…
Varies - Reverse Mortgage Revaluation Fee
Payable to the Bank in reimbursement of the fee the Bank incurs if the Bank requires a revaluation of the Property at any time during the life of the loan.
Varies - Third Party Document Production Fee
Payable at cost if the Bank incurs costs or had to pay a third party in connection with something that needs to be done under the Loan or Security.
Varies - Title Search Fee
This fee is payable to the bank in reimbursement of costs incurred for obtaining title searches on the security property.
Varies
Features
Eligibility and limits
- Minimum age 65
- Residency: At least one applicant must be an Australian or New Zealand citizen or an Australian permanent resident. Income for non-permanent residents isn't included. Australian's living overseas are eligible only if they had prior lending with PNL.
- Available to individuals
- Amount $10,000 to $300,000
- Maximum LVR 35%
- Credit eligibilty criteria, terms and conditions, fees and charges apply.
- You must be or become a P&N Bank member
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Published by P&N Bank under the Consumer Data Right, last changed by them on 14 Oct 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.