The Integris Equity Release is a flexible reverse mortgage that enables homeowners over the age of sixty to release a portion of the equity in their property.

Repayments are not required whilst you are still living in your home. All interest and fees are ‘rolled up’ into the Integris Equity Release loan balance. Importantly, you can also stay in your home for as long as you choose.

It is Australia's only Reverse Mortgage that protects you from the uncertainty of increasing interest rates over the entire life of the loan, irrespective of how you choose to draw down the funds.

How it Works

Integris Equity Release is an award winning reverse mortgage that offers both certainty of interest rate for the entire life of the loan, together with the flexibility of how you may receive the funds.

The graph below is an example and illustrates how the Integris Equity Release works:

Note: The example shown is based on a $350,000 property, a loan advance of $100,000 (28.6%) and a fixed interest rate of 8.69% APR. (comparison rate is 8.73% ) * An initial loan advance of $25,000 with subsequent equal monthly instalments of $625 over 10 years. The calculation has also assumed nominal house price growth of 6.00% p.a. The illustration is shown over 15 years.

* The comparison rate is based on a $150,000 loan amount for a 25 year term. Other credit fees and charges are payable. NOTE: This comparison rate applies to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees and early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

For more information on this product please call us on (03) 5821 9033 or drop into your local GMCU Branch.