Reverse Mortgages & Home Equity Release in New Zealand
Release the equity in your home without selling or making monthly repayments. Compare Heartland and SBS with guidance from a licensed New Zealand adviser.
- No monthly repayments
- Stay in your home
- No-negative-equity protection
At a glance
- Who it’s for
- Homeowners aged 60+
- How much
- A share of your home’s value, rising with age
- Repayments
- None required — repaid when the home is sold
- NZ lenders
- Heartland Bank & SBS Bank
Two Main Equity Release Options in NZ
Home Reversion
No Debt Option
Sell a share of your home to access cash while staying put. No monthly payments, no interest charges, and you keep living in your home.
- No debt or interest charges
- Lifetime tenancy (contractual right)
- Keep benefiting from house price growth
Reverse Mortgage
Loan-Based Option
Borrow against your home's value without monthly repayments. Interest compounds over time and is repaid when you sell or pass away.
- Keep full home ownership
- No monthly repayments required
- Access larger amounts typically
What a reverse mortgage lets you do
Access the equity in your home to support your retirement — without selling, moving, or taking on monthly repayments.
Stay in your home
Keep living in your home, with the right to stay for life set out in your contract.
Access tax-free cash
Take a lump sum, regular advances or a cash reserve — release only what you need.
No-negative-equity protection
You will not have to repay more than your home sells for, subject to the loan terms.
No monthly repayments
Interest is added to the loan and repaid when the home is eventually sold.
Two New Zealand reverse mortgage lenders
In NZ, reverse mortgages are offered by Heartland Bank and SBS Bank — the major trading banks do not currently offer one. We compare both, using each lender’s own published figures.
How it works
Four simple steps, with a licensed adviser alongside you.
- 1
Free assessment
Check your eligibility and see an indicative amount you could release.
- 2
Compare options
Weigh reverse mortgage vs home reversion, and Heartland vs SBS, with your adviser.
- 3
Independent legal advice
Obtain independent legal advice — a requirement before proceeding in NZ.
- 4
Access funds
Receive your equity as a lump sum, regular advances or a cash reserve.
Not sure which option is right for you?
A licensed Evolve adviser (FSP711891) can compare reverse mortgage and home reversion, and Heartland and SBS, for your circumstances — with recommendations in writing.
Your situation
Age, home value, goals and family.
Run the numbers
Estimate what you could release.
Get advice
Personalised, in writing, FMA-regulated.
Common Questions About Equity Release
How much equity can I release?
This depends on your age, home value, and chosen option. Generally, you can access 15-60% of your home's value, with higher percentages available as you get older.
What are the eligibility requirements?
You typically need to be 60+ years old, own your home outright or have a small mortgage, and live in New Zealand. Specific requirements vary by provider.
Can I still live in my home?
Yes, with both options you have the right to stay in your home for life. This is legally protected and cannot be taken away.
What happens to my inheritance?
Both options will reduce the inheritance you leave behind, but the impact differs significantly between home reversion and reverse mortgages.
What Evolve clients say
This site is operated by Evolve Group Limited (FSP711891), a licensed Financial Advice Provider. Here is what some of Evolve’s clients say about working with the team.
“We found Nevil to be a great adviser — he has consistently put our interests first.”
“Nevil is an absolute pleasure to work with. He exceeds expectations consistently.”
“Nev made the whole process very easy and communicated with us at every step of the way.”
“Recently had a policy confirmed via Nev — great result, and the process from start to finish was a piece of cake.”
Reviews are for Evolve Group Limited and reflect individual client experiences. Source: evolving.co.nz. Individual outcomes vary.