A reverse mortgage for Australians
Security, comfort, choice. If you're a homeowner aged 60 plus, a reverse mortgage from Household Capital could support your long-term wellbeing.
What is a reverse mortgage?
A reverse mortgage from Household Capital lets homeowners aged 60 plus convert some of their home's equity into cash, without having to sell. It's designed to work within Australia's retirement system, so it can meet needs large or small.
You draw the money as a regular income stream, a lump sum, or a combination of the two. Repayment isn't required until you vacate the property, and the loan comes with protections including guaranteed occupancy, so you can live in your own home for as long as you want.
For a fuller explanation of how reverse mortgages work, see our reverse mortgage guide.
Financial independence
Access a regular income stream and lump sum payments
No regular repayments
Regular repayments aren't required, although you can make them anytime
Peace of mind
Guaranteed lifetime occupancy and other consumer protections
Lifestyle
Enjoy the retirement you've worked so hard for and deserve
Choice and flexibility
It's your money, it's your choice and you are in control
Family legacy
Retain 100% home ownership and benefit from any capital gains as your home value grows
How much could you access?
Reverse mortgages are for Australian homeowners aged 60 or over. How much you can access depends on your age, your property's value, and where you live.
It starts at 20% of your home's value at age 60 and rises by 1% each year after. These are maximum amounts, it's your choice how much you draw, as a lump sum, a regular income stream, or a mix of both.
| Home value | Age 60 | Age 70 | Age 75 | Age 80 | Age 90+ |
|---|---|---|---|---|---|
| % you could access | 20% | 30% | 35% | 40% | 50% |
| $650,000 | $130,000 | $195,000 | $227,500 | $260,000 | $325,000 |
| $750,000 | $150,000 | $225,000 | $262,500 | $300,000 | $375,000 |
| $1 MILLION | $200,000 | $300,000 | $350,000 | $400,000 | $500,000 |
| $1.5 MILLION | $300,000 | $450,000 | $525,000 | $600,000 | $750,000 |
| $2.0 MILLION | $400,000 | $600,000 | $700,000 | $800,000 | $1,000,000 |
Figures are indicative only. The quickest way to see your own range is our reverse mortgage calculator. It gives an estimate in about a minute.
Your protections
A 2012 update to the National Consumer Credit Protection Act gave Australia some of the strictest reverse mortgage protections in the world. These apply for the life of your loan.
Guaranteed lifetime occupancy
You keep full ownership and title of your home, and can live in it for as long as you wish. Because you don't need to make regular repayments, there's no risk of default or forced sale. You just need to keep living in the property, keep it maintained, and stay current on council rates, home insurance and any body corporate fees.
No regular repayments required
You don't make any repayments until the loan ends, when the full balance becomes due. Most providers, including Household Capital, let you make part or full repayments at any time without penalty.
No negative equity guarantee
You, or your estate, can never owe more than your home is worth, whatever happens to property prices.
Mandatory equity projections
Before you sign anything, your lender or broker must show you a personalised projection using the ASIC Moneysmart calculator, covering three scenarios over 15 years so you can see how your loan balance and remaining equity could change.
A Reverse Mortgage Information Statement
This standardised document explains exactly how the loan works, how interest compounds, and the questions worth considering, including future aged care costs, before you proceed.
Real people, real outcomes
A look at how a few Household Capital customers have used a reverse mortgage to change their retirement.
Pam — After an unanticipated early retirement, Pam and her husband were drawing down their savings just to keep up with their monthly mortgage repayments, a burden made heavier by the rising cost of living. Refinancing with a Household Loan meant no more regular repayments, freeing up their cash flow and giving them room to relax into retirement instead of watching their savings shrink. Read Pam's story.
Sandy & Colin — Sandy and Colin's priority wasn't extra spending money. It was protecting the assets they'd spent a lifetime building, without having to sell investments or dip into savings to maintain their lifestyle. Unlocking some of the wealth in their home let them do both: preserve what they'd worked for, and keep living the way they wanted to. Read Sandy and Colin's story.
Diana & Joe — When Diana and Joe moved from the Blue Mountains to Melbourne to be closer to family, their retirement savings took a hit and their income no longer stretched as far as they needed. Unlocking the wealth in their new home let them set up a regular income stream to top up their pension, plus a contingency fund for whatever came next. Read Diana and Joe's story.
Frequently asked questions
Answers to the questions we hear most about reverse mortgages.