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.