Your biggest financial asset can sit idle, while life and life’s pleasures pass you by. Our reverse mortgage loan can help you access cash from the equity in your property for a more comfortable retirement.

A reverse mortgage is a loan against the equity in the home that provides regular advances, but requires no repayments during the term of the loan. With a reverse mortgage, you
remain the owner of your home.

The loan is generally not due and payable until the maturity date of the loan or until the borrower no longer occupies the home as a principal residence, e.g. the last surviving borrower sells, moves out permanently or passes away. The debt you owe on a reverse mortgage equals all the loan advances you receive (including any you used to finance the loan or to pay off prior debt), plus all the interest and any fees or charges that are added to your loan balance.

Taking a reverse mortgage isn't the only decision you need to make. Who you take it from is probably even more important.

Transcomm Credit Union is a member-owned mutual organisation with 38 successful years of experience in the financial services industry. We are supervised and regulated by APRA, which is responsible for the supervision and regulation of all Approved Deposit Taking Institutions, which include Credit Unions, Banks and Building Societies.

Features of Transcomm’s Annuity Plus includes:-
• Regular monthly advances are paid directly from loan account without transcaction fees.
• Lump sum or combination lump sum and regular advances.
• Flexibility to adjust or suspend these advances.
• Loan can be repaid anytime with no early termination fees or penalties.