The Retirees Access Home Loan is a variable rate reverse mortgage loan specifically designed to assist those who have reached, or are nearing, retirement age and own their home.

You are able to borrow against the equity in your home and the balance of the loan is paid by your estate or when the property is vacated or sold. This is a very specific type of loan and special conditions apply.

We recommend that applicants discuss their intentions with their family and also investigate if the Loan may impact on any Government support payments, entitlements or other benefits.

We recommend that you obtain financial advice before applying for this product. Independent legal advice must be obtained before settlement of the loan will proceed.


  • Enables the retired or semi-retired to utilise the equity in their home
  • Borrow up to 40% of the value of your property, or $400,000 (whichever is lesser) depending on your age and the value of the property. Refer to FAQ for more information.
  • Receive the funds in one lump sum and use the money for any suitable purpose
  • Enables borrowers to remain in their home while being able to maintain a more comfortable lifestyle in retirement
9.22 % p.a. Interest rate 9.30 % p.a. Comparison rate

Product Features:

Home Loan Features
Minimum loan amount : No minimum loan amount
Maximum loan amount : The maximum amount available to borrow is assessed on the age of the youngest borrower and the loan to value ratio. The value of the property is assessed and then based on the valuation the borrower may be eligible for the following amounts: 60 - 64 Years - $200,000 or 15% of the value of the property, whichever is lower. 65 - 69 Years - $250,000 or 20% of the value of the property, whichever is lower. 70 - 74 Years - $300,000 or 25% of the value of the property, whichever is lower. 75 - 79 Years - $350,000 or 35% of the value of the property, whichever is lower. 80+ Years - $400,000 or 40% of the value of the property, whichever is lower.
Maximum loan term : No term. Payable on death of member or on vacating or sale of the property
Interest calculation : Calculated daily, charged monthly
Repayment type : Regular loan repayments are not required. However, you are free to make voluntary repayments of any amount (and redraw these amounts, for a fee) or repay the loan via lump sum repayments at any time at no extra cost or penalty. Provided you are not in default, the loan will be repaid when: (a) the mortgaged property is sold on your death or death of the last borrower; (b) the mortgaged property ceases to be your principal place of residence or that of the last surviving borrower; or (c) in case of an investment property or holiday home, on the death of the last surviving approved resident.
Establishment fee : $500
Interest offset : No
Redraw : Yes
Loan preparation fees : At cost
Increase/top up : Subject to Maximum Loan criteria
Investment Property as Security : Yes

Home loan calculators

Our handy home loan calculators can help you determine the amount you can borrow and what the monthly repayments may be.

Eligibility criteria, terms & conditions, fees & charges apply.

Borrowers' estate or its beneficiaries will not be liable for any residual debt following the sale of the property, provided the terms and conditions of the loan have been met.