Reverse Mortgage Guides

Reverse Mortgage vs A Standard Home Loan: What Is Different?

Repayments, interest, who qualifies and how much you can borrow: how a reverse mortgage differs from a standard home loan in NZ, and when a normal loan still makes sense after 60.

Reverse Mortgage Or Downsizing: Which Frees Up More?

Sell up and buy smaller, or stay and borrow against the house? The real costs of downsizing versus a reverse mortgage in NZ, with the numbers run both ways.

Is A Reverse Mortgage A Good Idea? Who It Suits And Who It Does Not

A reverse mortgage suits some New Zealanders over 60 and is a costly mistake for others. The situations where it usually makes sense, the ones where it does not, and the question most people forget to ask.

Alternatives To A Reverse Mortgage In New Zealand

Downsizing, family arrangements, renting a room, Lifetime Home, government support and standard lending after 60: the alternatives to a reverse mortgage in NZ, compared honestly.

6 min readRead guide

Who Can Get A Reverse Mortgage In NZ? Age, Property And Ownership Rules

Who qualifies for a reverse mortgage in New Zealand: the age rules for singles and couples, what the property has to be, minimum values, trusts, credit checks and the cases that get declined.

How Much Can You Borrow With A Reverse Mortgage?

Reverse mortgage borrowing limits in NZ by age, from 20% at 60 to 50% at 90, with a table for Heartland and SBS, worked examples on Auckland house values, and why borrowing less usually wins.

Can You Get A Reverse Mortgage If You Still Have A Mortgage?

You can get a reverse mortgage with a mortgage still owing, if the new loan clears it. How the payout works at settlement, what it does to your budget, the break fees to check, and when keeping the bank loan is cheaper.

Which Properties Qualify For A Reverse Mortgage? Apartments, Rentals, Baches And Lifestyle Blocks

Which NZ properties qualify for a reverse mortgage and which do not: owner-occupied homes, rentals and second homes, apartments and unit titles, baches, lifestyle blocks, leasehold, cross-lease and retirement village units.

Reverse Mortgage Interest Rates In NZ: What They Are And Why They Are Higher

Current reverse mortgage interest rates in New Zealand from Heartland and SBS, why they sit above home loan rates, what floating-only means over 15 years and how a one percent gap plays out.

What A Reverse Mortgage Costs To Set Up, Run And Repay

Every fee on a NZ reverse mortgage: arrangement, valuation, legal advice, drawdown, discharge and variation charges, with Heartland's published figures and a full-cost example from start to finish.

How A Reverse Mortgage Balance Grows: Compounding Explained With Real Numbers

How a reverse mortgage balance grows month by month: $100,000 at today's rate over 5, 10, 15 and 20 years, why drawing slowly costs less, what happens if house prices stall, and three equity scenarios.

Reverse Mortgage Pros And Cons For New Zealanders Over 60

The real advantages and disadvantages of a reverse mortgage in NZ, from a licensed adviser: what works in its favour, what catches people out, and the pros that only apply to some situations.

The Risks Of A Reverse Mortgage And The Protections You Should Expect

The three real risks of a reverse mortgage in New Zealand, and the five protections both lenders provide: the no negative equity guarantee, lifetime occupancy, equity protection, legal advice and the cooling-off period.

Family, Estate And Exit

What Happens To Your Home And Your Family's Inheritance With A Reverse Mortgage

What happens to a reverse mortgage when you die or move into care: the 12-month window, whether the children can keep the house, equity protection, and how to have the conversation before you sign.

Family, Estate And Exit

Repaying A Reverse Mortgage: Selling, Moving Into Care Or Paying It Off Early

How a reverse mortgage is repaid in NZ: paying it off early with no penalty, what happens when one or both of you move into care, selling with the loan in place, and how it interacts with the Residential Care Subsidy.

Family, Estate And Exit

The Reverse Mortgage Application Process In NZ, Step By Step

The five steps from first conversation to funds in your account: advice, choosing the lender and structure, valuation, the compulsory legal advice, and settlement. What to have ready and how long it takes.

Lenders

Heartland vs SBS Reverse Mortgages: An Adviser's Comparison

Heartland Bank and SBS Unwind compared by an adviser who works with both: rates, fees, age limits, borrowing percentages, property rules, drawdown options, guarantees and which tends to suit whom.

6 min readRead guide

Lenders

Which Banks And Lenders Offer Reverse Mortgages In New Zealand?

Only two lenders offer reverse mortgages in New Zealand. Which ones, why ANZ, ASB, BNZ, Westpac and Kiwibank do not, what happened to the lenders that left, and the non-bank alternatives.

Uses

What New Zealanders Use Reverse Mortgages For (And Which Uses Make Sense)

What New Zealanders over 60 use reverse mortgages for, from home repairs and clearing debt to topping up NZ Super and helping grandchildren, with an adviser's view on which uses stack up and which rarely do.

Uses

Using Home Equity To Move Into A Retirement Village Or Fund Care

Why a reverse mortgage cannot be taken on a retirement village unit, how Heartland's Village Access Loan bridges the move, funding home care to stay longer, and the Residential Care Subsidy question.