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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.

Go to Home Equity Release Code of Practice on Office for Senior Citizens
Go to Frequently Asked Home Equity Release Questions document (Word 76KB)
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Documents

This information is to assist people who are interested in Home Equity Release (HER) Schemes and the measures the government has introduced to ensure the schemes available in New Zealand meet minimum standards.

Code of Practice for Home Equity Release Schemes Frequently Asked Questions

Sep 2008

FAQs HER (Word 76KB)
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