If you’re over 55 and searching for new experiences, then look to your home equity to finance everything from travel to a new motorhome to home renovations and more.
No proof of income required.
Your money. Your choice.
Equity Empower is a traditional reverse mortgage with three drawdown options, giving you the flexibility to access funds when it suits you. Interest is only charged on the funds when and as you need them.
Receive a lump sum payment at the beginning of your loan. Ideal for consolidating debt, funding home renovations, purchasing a new car, or funding a trip overseas to visit your family and grandchildren.
Have your loan approved up front and then access money only when you need it without paying interest on the undrawn amount. Interest is charged on the amount that you draw down.
Manage your day to day living expenses with a regular monthly or quarterly income payment.
Your money. Your choice.
Find out the value of your property and how much home equity you can access.
Access funds to pay for renovations and repairs so you can comfortably stay in your home for longer
Pay for holidays, visit your grandchildren, upgrade your car or buy a motorhome
Tap into home equity to assist with your living costs
Secure funds for aged care accommodation while retaining ownership of your home
Cover the costs of in-home care so you can stay in your home and local community for longer
Utilise home equity to consolidate debt, including other loans and credit cards
Discover your Financial Firepower™
Our free calculator will estimate the current value of your home. We will show you how much money you could potentially release from your home. Simply type in your address and whisper us your age.
Fast Approval
We are fast: Provided we receive all of the necessary information with your application, we can generally give you a decision within as little as a few days.
Equity Empower is a reverse mortgage that allows you to free up part of the value of your property without having to sell it. With an Equity Empower loan, you aren’t required to make any repayments of principal or interest until the end of the loan. Instead, interest capitalises so the loan balance increases over time, unless you choose to make voluntary repayments.
Equity Empower does not have a fixed loan term. The loan balance is generally repayable in full only when the last remaining borrower permanently leaves the property, or the property is sold. If the security property is your residential home, then you’re required to occupy the property. However, if we have approved an investment property as security, then we waive this occupancy condition.
Equity Empower has flexible drawdown options: you can access the loan funds as an initial lump sum, a regular monthly or quarterly income payment, a line of credit, or a combination of these options. You’ll only be charged interest on the amounts that you draw down.
With Equity Empower, you’ll have the option to make repayments at any time. If you do make repayments, then you’ll generally be able to re-drawdown those funds again at a later stage, should you choose to.
You can use the loan for a variety of purposes - to fund the trip of a lifetime, buy a new car, renovate your home, supplement your retirement income, consolidating debt, help your kids or grandkids. and more.
Inviva offers loans from $50,000 up to $2,000,000 for borrowers aged 55 years or over.
The maximum Loan-To-Value Ratio (LVR) depends on your age and the value of your property. A 55-year-old can borrow up to a maximum LVR of 15% (i.e., up to 15% of their property’s value). The maximum LVR then increases by 1% for each additional year of age. For example, a 73-year-old may be able to borrow up to a maximum of 33% of their property’s value.
As part of the application process, we’ll discuss with you if there are other circumstances that may impact the amount you can borrow or any other conditions.
You can use an Equity Empower loan for a variety of purposes, giving you with the flexibility you need to meet your goals. This could include funding the trip of a lifetime, buying a new car, renovating your home, supplementing your retirement income, consolidating debt, helping your kids or grandkids, and more.
You can choose to access the funds as:
Equity Empower has all the key features of a standard reverse mortgage, allowing you to free up part of the value of your property without having to sell it. With Equity Empower you aren’t required to make any interest or principal repayments until the end of the loan. However, you have the option to make repayments at any time, and to redraw those funds at a later stage if you choose to do so.
Equity Empower comes with a ‘no negative equity’ guarantee, so you can never owe us more than the market value of the property.
Our key differences:
Unlike some other reverse mortgage providers, we will lend to borrowers aged 55 to 60. We also typically allow you to borrow against properties other than your primary home such as an investment property or holiday home.
Equity Empower has an upfront loan establishment fee of $995 to arrange settlement of the loan including a standard desktop valuation and documentation. If a full in person valuation is requested by you or required by us, this will be passed on at cost. As part of the application process, we will let you know in advance if a full in person valuation is needed, and you may be required to pay for this separately in advance. The loan establishment fee is deducted from the loan amount at settlement along with any government charges that apply. There is no ongoing monthly fee, however there is a loan discharge fee of $300 to arrange discharge of the mortgage at the conclusion of the loan.
Our current Equity Empower interest rate is 9.20% (comparison rate 9.23%*).
* Comparison rates are based on a secured loan of $150,000 over a 25-year term.