Retirees typically fund their retirement using a combination of savings in superannuation and other investments, as well as the the Age Pension. However, many Australians retire without enough superannuation to fund a comfortable retirement and maintain the lifestyle they worked hard to enjoy.
Household Capital can make another avenue of retirement funding available to you. We enable you to draw on your home equity, or the savings in your home, via a Household Transfer®. It allows you to access a portion of your home’s value to meet your long term retirement needs.
Top up your superannuation or investments, boost retirement income, meet unexpected expenses
"We worry about running out of money in retirement. But I’ve always realised there is wealth in the home. We’ve always worked for the long-term. This is a long-term approach."
Sue & Peter Sydney NSW
Refinance an existing mortgage to improve your retirement funding with no obligation to pay regular interest
"It was such a relief to cover what was left of our mortgage and not have to stress about meeting the repayments each month. Now our income covers those things I was looking forward to in retirement - day trips, time with the grandkids and indulging our passion for movies."
Debbie & Bill Ivanhoe VIC
Renovate your home, upgrade your car, improve your lifestyle
"I needed to modify my home so I can comfortably stay here for a few more years before moving into aged care. It’s kept me anchored to my community, which is really important to me."
Florence Mornington VIC
Medical expenses, in-home care, residential aged care
"My husband needed to enter a residential aged care facility while I wanted to stay at home. A Household Loan enabled us to pay a Refundable Accommodation Deposit on his facility of choice and, at the same time, meant I could stay in our family home. This was really important to me, it’s where all my memories are. I didn’t want to have to move out."
Rose & Jack Northbridge NSW
Help future generations when they need it most
"We want to fund our granddaughter to be able to take a year’s maternity leave to spend with our future great grandchild. It’s such a special time for mother and child but without pay, she needs to return to work to be able to contribute to their mortgage."
Sophia & Joe Brisbane QLD
Your home can be both the best place to live and the right way to fund your own retirement
A Household Transfer is our innovative approach to borrowing against home equity for responsible, long-term, retirement funding.
Our loan is structured as a reverse mortgage, which means you remain the owner of your home. Importantly, legislative protections mean that you can stay in your home as long as you want to, you only need to repay the loan when you leave your home and you cannot end up owing us more than the house is worth.
Why choose us?
We ensure you access your home equity responsibly and sustainably to meet your long term retirement needs
Your circumstances are unique. We want you to discuss your options openly with us, your family and your adviser to achieve your best possible outcome
We offer the lowest comparable interest rate, transparent fees and no exit or other penalties
We provide total flexibility – make no interest payments, interest-only payments or repay your loan at any time
What is our process?
Explore your retirement funding needs and determine how much you may be able to borrow using our calculator
Meet with one of our retirement specialists to assess whether a Household Transfer might be right for you using our innovative software
Complete your application, which includes all the relevant information and documentation in a single pack
Use the proceeds of your Household Transfer and Live Well At Home
How does this help me?
Explore your potential Household Transfer using our needs-based calculator.
Most frequently asked questions
What is a Household Transfer?
A Household Transfer is our innovative approach to borrowing against home equity for responsible, long-term, retirement funding. Our loan is structured as a reverse mortgage.
A reverse mortgage allows you to borrow money using the equity in your home as security. Interest is charged like any other loan, but you don’t need to make repayments while you live in your home. The loan must be repaid in full if you sell your home or die or, in most cases, if you move into aged care.
To find out more about reverse mortgages, including a reverse mortgage calculator to help you work out how much equity you may have in the future, visit the Australian Securities and Investments Commission’s free consumer website at www.moneysmart.gov.au.
What is the interest rate?
The interest rate on a Household Transfer is a variable rate of 5.40*% per annum (which is Australia’s lowest rate for a reverse mortgage or equity release product).
*The Comparison Rate based on a loan of $150,000 for 25 years is 5.46% per annum. Fees and charges may be payable. Note: this comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
What protections does a Household Transfer provide?
As our loans are structured as a Reverse Mortgage you benefit from key structural and legislative protections.
You remain the owner of your home (and benefit from any increase in property value)
You can stay in your home for as long as you want to
No Loan Repayments
There is no requirement for you to make periodic loan repayments (although you can do so at any time). The loan becomes repayable when you leave your home.
No Negative Equity Guarantee
You cannot end up owing us more than the house is worth.
These protections are subject to you not materially breaching our loan contract terms and conditions.
Paul leads Household Capital’s distribution operations. Paul is an experienced financial services professional having held roles with ASGARD, AXA and NAB. Most recently, Paul led distribution for DST Systems, a financial technology business in Australia.
Paul has spent over a decade developing innovative products and services for the retirement and pension segment in Australia. He was part of the team the brought AXA’s North platform to market, and in his role at NAB, developed MLC’s Investment Protection retirement guarantee product. Paul is an industry leader in the development and provision of variable annuities and retirement income.
Paul is passionate about the need to innovate and develop new solutions for Australia’s retirement sector. He leads partner relations and our go to market strategy alongside distribution partners.
Fiona manages Household Capital’s retirement partnerships with financial advisers, professionals, aged care and home care providers. She has over 25 years’ experience in the financial services industry, holding senior positions with a number of large companies over that period.
Fiona has an extensive background in financial advice, including running a large financial services licensee as General Manager of Apogee Financial Planning, a subsidiary of NAB. In addition, she has experience creating and launching a personal and business succession advice division.
Fiona is passionate about family financial well being and strongly believes in the ideal for older Australians to remain financially independent and age with integrity while living the best life available.
Fiona holds a Bachelor of Business and Diploma of Financial Planning
Richard has over 30 years experience in financial services with Westpac, Macquarie Bank and BT Financial Group. These organisations provided Richard a broad range of opportunities enabling him to build his experience in delivering positive client outcomes underpinned by an established lending history.
Richard was instrumental in the development, management, distribution and market education of Macquarie Bank’s specialist lending services to self managed superannuation funds and reverse mortgage solution to older Australians.
Richard is passionate about developing sustainable long term prudent solutions that help people in achieving a comfortable lifestyle.