Home equity release

Your home is often your most valuable asset.  It is reassuring to know that you may draw upon that asset to pay for your essential and lifestyle costs.

The government, along with home equity release product providers, have agreed on a Code of Practice for Home Equity Release Schemes. This means that you will be allowed to 'borrow' a portion of your home's value to use how you see fit (e.g., paying medical bills, travelling to see family).

Interest accrued will depend on the borrower's situation and the value of their home.

Code of Practice for Home Equity Release Products - September 2008

The government and home equity release product providers have agreed on a Code of Practice for home equity release schemes. The Code is a voluntary code.

The Code provides protections for older people considering drawing on the equity in their homes to meet essential and lifestyle needs. The Code itslef provides information that is of interest and assistance to people considering a home equity loan.

Frequently Asked Questions (FAQs) - information to assist people who are interested in Home Equity Release (HER) Schemes, and information about measures the government has introduced to ensure the schemes available in New Zealand meet minimum standards.