Seniors Equity Loan

You can free up your equity to;

» purchase a new car
» go on a dream holiday
» home improvements
» supplement your regular income to help you live more comfortably.

If you’re 60 or over, a Seniors Equity Loan could help you unlock your home’s equity to start something great.

To make sure this loan is a good choice for you, we suggest that you seek independent financial and legal advice about your situation. If you receive benefits from Centrelink please contact them to discuss your options.

After years of putting money into your home, it’s only reasonable to free-up some of that equity to spend on what’s important for you today.

You can receive your funds as a lump sum or on an ad hoc basis.

No negative equity The Seniors Equity Loan is a reverse mortgage loan that doesn’t require regular loan repayments.
It includes a ‘no negative equity’ guarantee, so you’ll never owe more than the value of your home.


Repayments to your Seniors Equity Loan are voluntary. You can choose to make repayments or defer repaying the loan until the house is sold or the last co-borrower moves out or passes away.

How much can I borrow?

Your borrowing amount depends on how old you are and the value of your property. The amount you can borrow increases each year from age 60 to 85.


Age Property Loan Amount
65 $350,000 =$52,000
70 $350,000 =$70,000
75 $350,000 =$87,500
80 $350,000 =$105,000

If there is more than one person applying for the loan, the youngest applicant must be at least 60 years of age.