Paul, thank you for the response to Hirani's question.

Yes, there are a number of income options in releasing equity, both Government and retail lenders.

You may not be aware that since 2012, all borrowers have been required to obtain mandatory independent legal advice on the terms and conditions in the reverse mortgage documents.

From the consumer perspective, reverse mortgages have more protections than any other home loan.

Whilst I agree with your comments on lump sums, early retirees have circumstances where can the purchase of a car or car/caravan fit into their retirement plan. The question is often whether the funding comes from home equity or superannuation. Each circumstance is different. Some decisions can lead to a decrease in age pension whilst others may have a decrease in super income.

As the Retirement Income Review found, there are three options - superannuation, age pension and personal assets such as home equity. It's up to each individual to find their best option.

Cheers,

Paul

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