For many New Zealand homeowners over 60, their home represents their largest asset. Equity release offers a way to access this wealth without having to sell and move. This comprehensive guide explains your options in 2026.

What is Equity Release?

Equity release is a financial product that allows homeowners, typically aged 60 and over, to access the value tied up in their property without having to sell it. In New Zealand, there are two main types of equity release:

• Reverse Mortgages: You borrow against your home's value, with the loan plus interest repaid when you sell, move into care, or pass away.
• Home Reversion: You sell a percentage of your home's future value in exchange for a lump sum today, while retaining the right to live there.

Who is Eligible?

To qualify for equity release in New Zealand, you typically need to meet the following criteria:

• Age: Most providers require you to be at least 60 years old
• Property: You must own a residential property in New Zealand
• Equity: Your home must have sufficient equity (usually at least 50%)
• Primary residence: The property must be your main home

How Much Can You Release?

The amount you can release depends on your age and your property's value. Generally:

Key Providers in New Zealand

The two main reverse mortgage providers in New Zealand are:

• Heartland Bank: An established reverse mortgage provider with extensive market experience.
• SBS Bank: A mutual bank offering the SBS Unwind Reverse Equity Mortgage.

Important Protections

All reputable equity release products in New Zealand include these key protections:

• No Negative Equity Guarantee: You'll never owe more than your home's value
• Lifetime Occupancy: You can stay in your home for life
• Independent Legal Advice: Required before signing

Next Steps

If you're considering equity release, we suggest you consider:

1. Use our equity release calculator to estimate how much you could access
2. Compare the options to understand which suits your situation
3. Read our FAQ section for answers to common questions
4. Seek independent financial and legal advice before proceeding