Reverse mortgages in Australia
A reverse mortgage lets Australian homeowners aged 60 plus unlock the wealth in their home without selling or making regular repayments. See how it works, how much you could access and the protections that come with it.
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.
How much could you access?
How much you can access depends on your age and your property's value.
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.
Key features of a reverse mortgage
No regular repayments
You don't need to make repayments while you live in your home
Income stream or lump sum
Draw a regular income, a lump sum or both
Keep ownership of your home
Your home stays in your name, and you benefit from any growth in its value
Guaranteed lifetime occupancy
Live in your home for as long as you choose
No negative equity guarantee
You or your estate can never owe more than your home is worth
Repay any time
Make repayments of any size without penalty
How to get a reverse mortgage in three steps
Getting started is simple. We'll help you understand what you're eligible for and support you through each step of the application.
Calculate now
Use our reverse mortgage calculator to check your eligibility and see how much you could unlock.
Talk to a specialist
Book a call with one of our Australian-based retirement specialists to talk through the process and ask any questions.
Complete your application
Our team is with you at every step, so the process stays simple.
What can you use a reverse mortgage for?
Give
Support your family when they need it most with a home deposit or education costs
Your protections
Australian law gives reverse mortgages some of the strictest consumer protections in the world, and they apply for the life of your loan.
Read more about how these protections work in our reverse mortgage guide.
Guaranteed lifetime occupancy
Live in your home for as long as you wish.
No regular repayments required
Nothing is due until the loan ends, and you can repay early without penalty.
No negative equity guarantee
You, or your estate, can never owe more than your home is worth.
Mandatory equity projections
Before you sign, you'll see how your loan balance and equity could change over 15 years.
A Reverse Mortgage Information Statement
A standard document that explains how the loan and its interest work.
Frequently asked questions
Answers to the questions we hear most about reverse mortgages.
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.