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Picture Book · Home Equity Access Scheme

Scheme or reverse mortgage?

Story pages

A man in his early seventies watching television in a lounge room
Meet Stan. He's 71 and has seen ads for reverse mortgages.
A man in his early seventies at a bank branch desk talking with a lender
A reverse mortgage is a loan from a commercial lender, usually paid as a lump sum, a regular income or a line of credit.
A man in his early seventies opening a plain envelope at his letterbox
The Home Equity Access Scheme is a Government loan, paid fortnightly, as advances, or both.
Two different apples on a wooden board side by side
Interest rates, fees, limits and features differ, so compare them side by side.
A man in his early seventies talking with his adult son on a back porch
Moneysmart suggests talking to family and getting independent legal and financial advice first.
A man in his early seventies writing two lists on a notepad at a table
Stan compares both before he decides anything.

The end

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Next story: Is it right for you?

General advice warning. This picture book is general information only. It does not take into account your objectives, financial situation or needs, and it is not personal advice. Rules and thresholds change. Before acting, consider whether it is right for you, read any relevant Product Disclosure Statement and our Financial Services Guide, and seek personal advice. Past performance is not a reliable indicator of future performance.

Information as at 27 October 2026. Sources:

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