Household Capital launches new refi option

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Household Capital, which provides a range of flexible lending solutions for Australians aged 60+, has announced the launch of its Retirement Refi loan.

More than two million Australians in their 60s carry mortgage debt, a number that will continue to grow. Some of those individuals are approaching retirement, others already retired – sometimes not by choice. For many, trying to juggle repayments on even a modest home loan alongside the rising cost of living is challenging. 

“As Australians transition from working life to retirement, there are few options for people carrying the burden of regular repayments,” said Shelley Wettenhall, Household Capital’s Head of Broker Distribution.

“For many, the end result of having to make mortgage repayments in their 60s is a compromised lifestyle.”

Based on its full featured reverse mortgage, the Household Loan, Household Capital’s new Retirement Refi is a streamlined loan that offers a lower interest rate and simplified application process.

“Our Retirement Refi has been designed to meet the needs of this group; it allows the over 60s to repay their home loan with a reverse mortgage product that removes the need to make regular repayments and frees up their cash flow,” added Wettenhall.

Household Capital’s Retirement Refi is designed to refinance an existing mortgage and provides a small additional ‘contingency fund’ to help with future unexpected retirement expenses.

“While our Retirement Refi is not for everyone, it is for many,” commented Wettenhall. “It gives brokers the opportunity to retain and attract older clients and gives those clients the ability to free up their cash flow to enjoy freedom and choice in retirement.”

Household Capital’s flexible lending solutions for clients aged 60+ are available on a number of broker panels including Finsure, LMG, SFG, YBR and

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