Home reversion products

Home reversion products allow you to access some of your home equity, without creating a debt.

These products are a part-sale property contract, rather than a loan. You agree to sell a share of the future sale proceeds of your home, and in return, you receive a lump sum now.

• As it is not a loan, there is no interest and no increasing debt.
• The provider receives the agreed percentage of the sale proceeds from your home, when you eventually sell it.
• You continue to own your portion of the future sale proceeds of your home.
• You can remain in your home, or you can rent it out, subject to your agreement with the provider.
• If you rent your home out, you receive all of the rental income.

With home reversion products:

• they may only be available in major cities or specific postcodes
• set up costs and fees apply.

You should see professional advice to understand the potential impact on your home equity future sale proceeds as well as any impact on any Centrelink entitlements such as the Age Pension.

You will need to obtain legal advice before signing the part-sale contract.