If you’re over 60 and own your home, a reverse mortgage lets you borrow money against the value of your house — without needing to make regular repayments as is required with a normal mortgage. You continue to live in your home for as long as you wish, and the loan is paid back when the house is sold (usually after you move into care or pass away).

Many people use reverse mortgages to:

  • Cover medical or home care expenses
  • Pay for house repairs or modifications
  • Support day-to-day living in retirement
  • Help family members financially

It can be a helpful option — but it’s important to fully understand the long-term impact. That’s where we come in.

Important things to know

Before you decide, it’s wise to think about:

  • How much interest will build up over time;
  • How much of your home’s value will be left for your estate or family;
  • Whether the loan affects things like rest home subsidies;
  • If you want to leave money or the house to children or grandchildren;
  • Your future plans — for example, moving or needing aged care.

 

A reverse mortgage is a serious decision. The law requires that you get independent legal advice, and we’re here to help you feel comfortable and well-informed.

We’ll make sure you fully understand your rights and options — and support you in making a choice that’s right for you.

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FREQUENTLY ASKED QUESTIONS

A reverse mortgage is a loan for people aged 60 and over that lets you borrow money against the value of your home. You don’t make regular repayments — instead, the loan (plus interest) is paid back when your home is sold, usually after you move into care or pass away.
The amount depends on your age and the value of your home. Typically, the older you are, the more you can borrow, but lenders usually limit the loan to a percentage of your home’s value (e.g. 15–40%).
Yes. Under New Zealand law, you must get independent legal advice before signing a reverse mortgage agreement. We’ll make sure you understand the terms, protect your interests, and help you make a fully informed decision.

We’ll explain:
• The loan terms in plain language
• What it means for you now and in the future
• What to expect if your circumstances change
• How it could affect your estate and family

Our Experts

Bill Herbison

Managing Director | Solicitor

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Hiromi Jin'o

Associate | Solicitor

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Samantha Healey

Senior Solicitor

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