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Reverse Mortgage Interest Rates & Fees

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Rising Interest Rates

Many of us are concerned about rising interest rates and the cost of living. Retirees are no exception – especially those making mortgage or credit repayments from a fixed income.

Thankfully, Australian retirees are the wealthiest in the world, thanks to the value we’ve built in our homes. Savvy retirees are accessing that wealth to refinance their debt and lift their standard of living, even in challenging times. And they’re staying in their homes, near the family and community they love.

While interest rates are rising, so are home values. Our interest rate tool can show you the impact of three potential interest rates scenarios over five and ten years, together with projected increases in home values, based on our average customer home value and loan size. If you would like a more personalised assessment, use our home wealth calculator  or call us on 1300 057 080 for a friendly obligation-free discussion.

Average House Price
Household Loan
Remaining Home Equity
As a percentage of house value
Interest rate
Get a personalised assessment
Or call us at
1300 622 100
1 Assumption house price growth 3% p.a.
2 The average starting Household Loan is $150,000

If you are still concerned about rising interest rates, why not consider the Government’s low-interest rate Home Equity Access Scheme (HEAS)? It’s a reverse mortgage-style loan issued by the federal government that allows eligible Australian retirees (including self-funded retirees) to boost their retirement income by drawing on their home equity and borrowing up to 150% of the full Age Pension entitlement.

The Household Capital Pension Boost service helps Australian seniors access their home wealth through the HEAS by taking care of the complete application process and removing the barriers that often come with dealing directly with Centrelink.

To learn more about the Household Capital Pension Boost service and the HEAS, please click below.

Boost your retirement income

Learn more about our Pension Boost Service and accessing the equity in your property

Consistently Low Rate

Variable rate


Comparison rate*


Household Loan Fees and Charges

Description Fee
Establishment Fee (includes valuation and conveyancing) $950 flat fee
Special attendance fee (e.g., variation or substitution of security, discharge of mortgage) $250 per attendance plus third-party fees
Fee for provision of paper copies of documents $25 per request
Drawdown fees Nil
Regular service fees (monthly, annual) Nil
Early repayment fee Nil

Calculate Your Home Wealth 

Learn how unlocking your home’s wealth could enhance your retirement and provide you with confidence and control.

Frequently Asked Questions

  • The Reserve Bank of Australia (RBA) has indicated that it might start easing (or lowering) rates later in 2023 or, at least in early 2024. At that time, Household Capital will lower its rate accordingly.

  • The lower the reverse mortgage interest rate on your loan, the more of your home equity you retain and can access to fund your long-term retirement needs. It’s that simple.

    Try our equity calculator or call us on 1300 622 100. See how using your Household Capital could improve your retirement income. Live Well At Home™

  • Reverse mortgage interest rates are generally higher than a standard mortgage because there is no obligation for borrowers to make repayments until the end of the loan.

    Try our equity calculator or call us on 1300 622 100. See how using your Household Capital could improve your retirement income. Live Well At Home™

  • Reverse mortgages are only available with variable rates; the main benefit of this is that you have flexible repayment options. A Household Loan may be repaid, in part or full, at any time without penalty.

    Try our equity calculator or call us on 1300 622 100. See how using your Household Capital could improve your retirement income. Live Well At Home™

  • Interest Rate
    The interest rate on a Household Loan is 9.20%p.a. (9.23%p.a. comparison rate*).

    Establishment Fee
    Household Capital charges an Establishment Fee (including conveyancing) of $950. Valuation fees may also apply to your property. Government fees and charges to establish your loan will be charged at cost if applicable.

How Our Customers Rate Us

Disclaimer: Comparison rate based on a secured loan of $150,000 over a 25 year term. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates.

Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. ^Amounts spent will be added to your Household Loan and accrue interest like any other funds drawn via your Household Loan.