Household Capital completes successful acquisition of Macquarie Bank reverse mortgage portfolio

• Household Capital has doubled its loan book in three years; now more than $1 billion in total loan origination
• Its rapid growth cements reverse mortgages as a third pillar of retirement, alongside
  superannuation and the aged pension
• Household Capital has this week completed its acquisition of Macquarie Bank’s reverse mortgage portfolio; all customers have been onboarded and can now access its specialist services
• The majority of Household Capital customers who are single are women, making reverse mortgages a key source of retirement income for women homeowners over 60.

4 August 2026: Leading provider of home equity retirement funding, Household Capital, has successfully completed its acquisition of Macquarie Bank’s reverse mortgage portfolio.

“This deal is a defining vote of confidence, not only in Household Capital, but in the quality of our customers, their homes, and Australia’s world-leading equity release industry as a whole. It’s a clear and timely signal that our sector is sustainable and expanding,” Household Capital CEO and Founder, Dr Josh Funder, said.

In the past week, Macquarie customers have been transitioned to Household Capital’s specialist services, gaining access to its digital lending platform, Australian-based customer service team, and additional home equity where appropriate.

Household Capital was established in 2016 and began originating loans in 2019. It has experienced rapid growth, with the value of its loans doubling since 2023 to over $1 billion.

“We’ve attracted local and global capital to ensure scalable, sustainable funding for Australia’s ageing economy,” Dr Funder said.

Household Capital has also attracted local fixed income specialist Revolution Asset Management, alongside a Top Five industry super fund and a Top Five retail super fund to expand its wholesale mortgage funding.

It has a sophisticated funding program, comprising a warehouse supported by lenders Citi, PEP and Revolution, and a series of rated mortgage portfolio securitisations. Its most recent term securitisation achieved AAA rating for senior notes, and was four times oversubscribed.

“We are proud to close a virtuous circle in Australian finance – delivering low risk investment returns in reverse mortgage securities by attracting investment from the superannuation asset management sector while delivering home equity alongside seniors’ superannuation savings,” Dr Funder said.

A nationwide survey by Deloitte revealed Australian reverse mortgages totaled around $5.5 billion as at 30 June 2025, representing more than 40,000 households with a reverse mortgage product.

“Australians aged 60 and over hold more than $3 trillion in residential property wealth. This means the median retiree has around $800,000 in wealth saved in their home equity, three to four times their superannuation.”

“Household Capital is supporting the growing demand for equity release to help fund additional income, refinance home loans, fund medical expenses, renovations, travel, or everyday retirement living for those whose wealth is locked up in the family home,” Dr Funder said.

Specialised reverse mortgage products used to be a niche consumer lending offering from the major banks, but after major lenders stepped away from sector, non-bank funders – including Household Capital – stepped in to fill the gap.

“We are specialists in equity release to support retirement housing and funding. This is at the core of what we do. Household Capital is proud to offer products that help people stay in their own homes as they age and access the wealth they have built in their homes.”

“Freeing up this wealth also has positive flow on effects for the entire economy. It’s spent in the local economy, raises the standard of living for retirees, and assists society in the challenges associated with caring for an ageing population,” Dr Funder said.

Household Capital has seen around 40 per cent year-on-year average increase in its portfolio. Of particular note, the uptake of reverse mortgages among older single women provides them an important boost to retirement housing and funding security – around 50 per cent of Household Capital’s customers are single; almost two thirds of them are women.

“These women are more likely to have worked part-time, been underpaid, or have taken time out of the workforce to care for a family member, so their super tends to be much smaller balances.”

“They tell us unlocking the wealth they have in their homes gives them options they never thought they’d have in retirement, affording them freedom of choice and reducing their worries about the future,” Dr Funder said.

“In our experience, Australian retirees are prudent and want to have enough to live on, enough for a rainy day, and enough to think ahead to aged care. But – fortunately – most Australians live long and healthy lives by international standards, so accessing home equity alongside super can help them achieve financial adequacy.”

“Australians are increasingly using the wealth in their own homes to gain confidence in their future,” Dr Funder said.

“We’re proud Australians are turning to our products to fund a comfortable life in retirement, while still ensuring they can leave a legacy behind.”

—Ends—

Emma O’Sullivan 0402 466 459

Household Capital is an Australian-owned independent retirement funding provider founded in 2016 with the aim to help retired Australians ‘Live Well at Home’. It offers retirees a responsible, sustainable and flexible financial solution that allows them to
bundle their superannuation savings, equity in their home and their Age Pension to achieve their retirement goals while continuing to live at home. www.householdcapital.com.au

About Household Capital CEO and Managing Director, Dr Joshua Funder
Prior to founding the company in 2016, Dr Funder was a director of Celladon Inc (NASDAQ: CLDN) and spent over a decade as a partner at GBS, Australia’s largest venture funds management firm. He has served as chairman and director of US and Australian companies including Peplin (ASX: PLI), Spinifex Inc and Elastagen and is a winner of the AVCAL early stage investment award. He previously worked at Infinity Inc (NASDAQ: INFI) in Boston, and at the Boston Consulting Group in San Francisco. Working with the Clinton Foundation HIV/AIDS Initiative, Dr Funder helped successfully negotiate reduced prices for anti-retrovirals and initiate pharmaceutical supplies across eastern and southern Africa. He is a co-founder and former chairman of Per Capita, whose research on longevity and positive ageing formed part of the inspiration for Household Capital. He is also the author of the novel, Watson’s Pier (MUP 2015). Dr Funder earned B.Sc. and LL.B. degrees at Melbourne University, an LL.M. degree at the London School of Economics and a D.Phil in intellectual property for biotechnology from Oxford University, where he studied as a Rhodes Scholar.