Refinance a Home Loan at 60+

You can refinance an existing home loan by using your home equity, the savings in your home. This frees up your cash flow to improve your longer-term retirement funding. You can choose to make interest repayments each month or repay the loan when you sell or leave your home. Consumer protections, such as guaranteed lifetime occupancy, are part and parcel of refinancing with a Household Loan.

Try our equity calculator or call us on 1300 622 100 to see how using your Household Capital could improve your retirement income so you can stay safe and Live Well At Home.

Home ownership and the family home is a strong part of the Australian identity, one that doesn't change when you retire. Home is where you’ve raised your family, created memories and established your community.

Until recently, most retirees faced with unserviceable mortgage debt felt they had no option but to sell their home. This isn’t an ideal option for everyone – appropriate housing isn’t always available in the right area and most people want to stay in their community.

Downsizing into a smaller home or unit, or even a retirement village, can result in disruption and dislocation and doesn’t always deliver a financial advantage.

Using a Household Loan, it is possible to refinance a mortgage in retirement without needing to downsize.

Try our equity calculator or call us on 1300 622 100 to see how using your Household Capital could improve your retirement income so you can stay safe and Live Well At Home.

Banks are rarely willing to help retirees refinance a mortgage and we’re often asked whether we can help older Australians refinance a home loan. The answer is yes, although as with all loans, terms and conditions apply.

Our Household Loan can be used to refinance an existing bank mortgage and has three key benefits for retirees over a traditional bank mortgage:

• Improved retirement funding – as you don’t have to make regular repayments, the money you were using to service your loan can instead be used to fund your retirement
• Interest payment flexibility – you can choose to make regular interest repayments, however, there is no obligation to do so
• Guaranteed occupancy – whether you choose to make repayments or not, you have guaranteed occupancy of your home until you choose to leave it. There is no risk of foreclosure for missing a payment.

Try our equity calculator or call us on 1300 622 100 to see how using your Household Capital could improve your retirement income so you can stay safe and Live Well At Home.

If you’re going to refinance your mortgage, whether with a traditional bank mortgage or with a Household Loan, you need to consider the following:

• Do you want to increase the retirement funding available to you?
• Do you want to be able to pay off the loan at any time without penalty?
• Do you want to be able to make interest-only repayments?
• Do you want flexibility?
• Do you want guaranteed occupancy?

Try our equity calculator or call us on 1300 622 100 to see how using your Household Capital could improve your retirement income so you can stay safe and Live Well At Home.

There are three key reasons why you should consider refinancing a standard home loan with a Household Loan in retirement:

1] Flexibility and choice - you don’t have to make any regular repayments. But you can repay part or all of your a Household Loan at any time without penalty. It's up to you.

2] Improved retirement income - because there's no requirement for regular payments, the income previously directed to repayments can be used for other purposes.

3] Guaranteed occupancy - Household Loans are a responsible, long-term retirement funding solution that come with a range of consumer protections, including lifetime guaranteed occupancy...even if you choose to make no repayments.

Try our equity calculator or call us on 1300 622 100 to see how using your Household Capital could improve your retirement income so you can stay safe and Live Well At Home.