Retirees Access

The Retirees Access Home Loan is a variable rate reverse mortgage loan specifically designed to assist those who have reached, or are nearing, retirement age and own their home.

You are able to borrow against the equity in your home and the balance of the loan is paid by your estate or when the property is vacated or sold. This is a very specific type of loan and special conditions apply.

We recommend that applicants discuss their intentions with their family and also investigate if the Loan may impact on any Government support payments, entitlements or other benefits.

Applicants must obtain independent financial advice and legal advice before taking out this loan.


  • Enables retired or semi retired people to access the equity in their home
  • You can borrow up to 40% of the value of your property, or $400,000 (whichever is lesser)     depending on your age and the value of the property. Refer to FAQ for more information.
  • Receive the funds in one lump sum and use the money for any suitable purpose
  • Enables borrowers to remain in their home while being able to maintain a more comfortable lifestyle in retirement

Retirees Loan rates for me!

Owner Occupied

               Principal & Interest                 Interest Only
Product Type   
Annual % RateComparison % RateAnnual % RateComparison % Rate
Retirees Loan
6.22% p.a.N/AN/AN/A

Interest rates effective for all new loans from 1 April 2019

How much can I borrow?

The maximum amount available to borrow is assessed on the age of the youngest borrower and
the loan to value ratio.

The value of the property is assessed and then, based on the valuation, the borrower may be 
eligible for the following amounts:

  • Age 60-64: Lower of $200,000 or 15% of value of property
  • Age 65-69: Lower of $250,000 or 20% of value of property
  • Age 70-74: Lower of $300,000 or 25% of value of property
  • Age 75-80: Lower of $350,000 or 35% of value of property
  • Age 80+ : Lower of $400,000 or 40% of value of property

To find out more, call G&C Mutual Bank on 1300 364 400 or visit a Service Centre in person.

Eligibility criteria, terms & conditions, fees & charges apply.

Borrowers' estate or its beneficiaries will not be liable for any residual debt following the sale of the property, provided the terms and conditions of the loan have been met.