Frequently Asked Questions

Get answers to common questions about equity release, home reversion, and reverse mortgages in New Zealand.

General

Eligibility & Requirements

Costs & Fees

Home Reversion

Reverse Mortgages

Impact on Family & Inheritance

Living Situation & Flexibility

Repayment & Exit

Choosing Between Options

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Frequently Asked Questions

General

What is equity release?

How much equity can I release from my home?

Can I still live in my home after equity release?

Will equity release affect my pension?

Eligibility & Requirements

Can I lose my house with a reverse mortgage?

What is the minimum age for equity release in New Zealand?

Do I need to own my home outright?

What if I still have a mortgage?

What types of properties qualify for equity release?

Can I get equity release on an apartment?

What if my property is in a rural area?

Do I need good credit to qualify for equity release?

Can couples with different ages both apply for equity release?

Are there any health requirements for equity release?

Costs & Fees

What fees are involved in equity release?

How much does a reverse mortgage cost?

Are there setup fees for home reversion?

Do I pay legal fees for equity release?

What is compound interest?

How does compound interest work on reverse mortgages?

Can interest rates change on equity release products?

What happens if property values drop?

Are there any early repayment fees?

How do fees compare between reverse mortgages and home reversion?

Home Reversion

What exactly is home reversion?

Do I have to pay rent after home reversion?

What happens to house price growth with home reversion?

Can I buy back my share in a home reversion?

Reverse Mortgages

How does interest work on a reverse mortgage?

What happens if I owe more than my home is worth?

Can I pay off a reverse mortgage early?

What happens to my reverse mortgage when I die?

Impact on Family & Inheritance

Can my children inherit my home?

Will my family have to repay the loan if I can't?

Do I need my children's permission for equity release?

What happens if I want to leave my home to my kids?

How does equity release affect inheritance tax in New Zealand?

Can my spouse stay in the home if I die first?

What if my children were planning to inherit my home?

How much inheritance will be left after equity release?

Living Situation & Flexibility

What if I want to move later?

Can I move to a different home?

What if I need to go into aged care?

Can I rent out part of my home?

Can I make home improvements with equity release funds?

What if I get married or divorced after taking equity release?

Can I have family members living with me?

What happens if I breach the terms of my equity release agreement?

Repayment & Exit

When do I have to repay equity release?

Can I make voluntary payments to reduce the debt?

What triggers repayment of an equity release loan?

How long does the sale process take after I die?

What happens if the house doesn't sell quickly?

Can my family buy the house instead of selling it?

Choosing Between Options

Which option gives me more money upfront?

Which is better for preserving inheritance?

Can I have both home reversion and a reverse mortgage?

Which option is more popular in New Zealand?

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