Using your home equity to fund that dream holiday

As we start to think about scaling back from our working lives and look to make the most of retirement, many of us have the opportunity to travel and see the world. You’ve worked hard and now want to enjoy this time on your terms.

If you've been asking yourself, "Can you use home equity for a holiday in retirement?" you're not alone. And for eligible homeowners, the answer is often yes. A home equity release loan can help cover flights, accommodation, cruises, caravan adventures or a long-awaited trip overseas to see family.

Using a home equity release loan to fund holiday or travel plans in retirement can offer financial flexibility and allow you to enjoy this time to the fullest.

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What are the benefits?

There are some key benefits worth considering when using your home equity to fund travel plans:

Funding a dream holiday sooner than you might otherwise be able

Whether you dream of embarking on a round-the-world trip, exploring exotic destinations, or simply enjoying an extended holiday locally, a home equity release loan provides you with the flexibility to fund your travel goals today rather than waiting. There are many advantages to travelling early in your retirement when your fitness and health may be at its best. It is also often a time where it is easier and more cost effective to secure travel insurance. Many of our customers also want to be able to travel with their children and grandchildren while they are still young so they can enjoy this special family time together.

Purchasing a lifestyle asset such as a caravan or motorhome

More interested in staying local and seeing the best that Australia has to offer? Many of our customers use our loan to purchase a caravan or motorhome so that they can put their road trip around Australia into action. A motorhome or caravan and/or the right vehicle to tow it can be expensive and this type of purchase can be difficult to fund from your retirement income or savings.

Peace of Mind

By using a home equity release loan to fund your travel plans, you can enjoy peace of mind knowing that you have a reliable source of financing available when you need it. Whether you're planning a one-time dream vacation or looking to travel regularly during retirement, having access to funds can make your travel experiences more enjoyable and stress-free.

Leveraging a home equity release loan to fund holiday or travel plans in retirement can provide you with the financial flexibility and resources to explore the world and create lasting memories. By tapping into the equity in your home, you can embark on new adventures, visit bucket-list destinations and make the most of your retirement years without compromising your financial security. However, it's crucial to carefully consider your borrowing needs, repayment ability and long-term financial goals before pursuing this option. We will talk to you about these goals as part of the application process and we recommend you seek independent financial advice or guidance if you are unsure.

Meet Ed and Melanie^*

When Ed and Melanie (both 60) approached Inviva about a home equity release loan secured against their home, they wanted to use the funds for some minor renovations to the property but they were also looking to fund an extended overseas holiday with Ed’s parents and their children to visit relatives and family in Croatia. In Ed’s eyes this would most likely be the last trip for his parents to their home country and he wanted to make sure they could take the trip now while his parents were physically able, and the timing suited the whole family.

How Inviva helped

Ed and Melanie initially accessed $80,000 of equity as a lump sum, and then applied for a further $60,000 when it was time to take the trip overseas. The flexibility afforded by an Inviva equity release loan meant that they only paid interest on the funds as and when they needed them – saving them time and cost and providing peace of mind that they could afford the trip while preserving their savings and retirement income.

“The trip last October was a once in a lifetime experience and something we could not have afforded at the time, without funding assistance. My parents, wife, children and I now have some great memories we have shared together across three generations that will be treasured by all of us for years to come.”
- Ed

*Case studies and quotes are illustrative of and inspired by some of our customers’ experiences.

How to use home equity for travel with Inviva

A home equity release loan for travel can give you different ways to access money, depending on the trip you have in mind. With Inviva’s home equity release loan, you can choose from three drawdown options. Interest is only charged on the funds you have drawn down, not the amount sitting undrawn.

Initial lump sum

Get a lump sum payment when your loan begins. This may suit a bigger trip with upfront costs, such as flights, accommodation, cruise bookings, travel insurance or visiting family and grandchildren overseas.

Line of credit

Have your loan approved upfront, then draw on the funds as needed. This may suit travel plans where costs can change along the way, such as extended holidays, multi-stop trips or caravan travel around Australia. Interest is charged only on the amount you use.

The minimum drawdown for this option is $1,000.

Regular income payments

Receive regular monthly payments to help manage ongoing costs while travelling or preparing for your trip. This may suit retirees who want extra cash flow for day-to-day expenses, travel spending money or smaller trip costs over time.

The minimum drawdown amount for this option is $500 per month.

You can also combine these options, giving you more choice in how you plan, book and enjoy your travels.

Simple eligibility for travel funding

Planning a bigger trip often means organising several costs at once, from flights and accommodation to spending money and travel cover. A home equity release loan for your holiday may help eligible homeowners access funds for these expenses, with simple criteria that make the process easier to follow.

No proof of income required

You do not need to provide proof of income to apply. This can be helpful for retirees who may not have a regular salary but have built up value in their home over time.

You may still qualify with an existing mortgage

Your home does not always need to be fully paid off. If the existing mortgage can be cleared using the proceeds of the new loan, you may still be eligible.

Stay protected while planning your next trip

Using home equity for travel is a big decision, especially when your home is involved.

Knowing how to use equity for travel starts with understanding the protections, costs and obligations that come with your loan. Inviva’s home equity release loan includes important protections to help you understand your obligations before moving ahead.

Lifetime occupancy guarantee

If the loan is secured against the home you live in and does not have a set term, you can stay in your home and community for as long as you wish.

No negative equity guarantee

You will never owe more than the market value of your property, helping protect you and your family.

Independent legal advice and support

You will need to get independent legal advice (at your own cost). Inviva can help you find a solicitor, so you can ask questions and understand your obligations before using home equity for travel.

Why choose Inviva?

Expertise & support — Our team has years of experience and offers personalised support
Transparent costs — No hidden fees, and you know all costs upfront
Flexible options — Choose how you access the funds — as a lump sum, regular income payment or a line of credit, and enjoy the flexibility to repay early with no early repayment fees
Quick access — Fast approval and disbursement mean you get funds when you need them

Explore how a home equity release loan with Inviva can help you enjoy a more secure and fulfilling retirement. Contact us to explore your options.

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Explore how a home equity release loan with Inviva can help you enjoy a more secure and fulfilling retirement, from funding renovations and covering living expenses to helping loved ones with major family milestones such as weddings. Contact us to explore your options.