ABN AMRO reverse mortgage products scoop more industry awards

PRESS RELEASE 18 May 2007

ABN AMRO Australia's reverse mortgage products have won both categories of the Australian Financial Review's Blue Ribbon Smart Investor Awards for 2007.

The judges at Smart Investor announced ABN AMRO's reverse mortgages as winner in both the ‘Variable' and ‘Fixed/Capped Rates' categories, noting that both products had no set-up charges and no legal or other third party-style fees.

"ABN AMRO takes the quinella of reverse mortgage awards with a fixed rate for five, 10, 15 and 20 years at competitive terms," the judges said.

Director of Reverse Mortgages at ABN AMRO Australia, Mr Martin Lynch, said he was delighted with the award wins, which further establish the products as leaders in the Australian market.

"ABN AMRO is immensely proud to win the AFR Smart Investor Reverse Mortgage categories for 2007. Our reverse mortgage offers borrowers a flexible, easy-to-use product with low interest charges and no ongoing fees. Our customers tell us they appreciate being able to choose the loan they want."

"These awards combined with the recent positive Choice magazine review of our products, and Money Magazine's Gold Award earlier in the year, confirm that we are headed in the right direction. Our goal is to keep building the best possible product for older Australians who want to access equity in their homes to enjoy their lives," Mr Lynch said.

For more information about ABN AMRO Reverse Mortgages call 1800 99 99 59