Home Equity Access Scheme: How The 'Reverse Mortgage' Plan Works
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4.8K views · 19 reactions | The number of seniors turning to the government's Home Equity Access Scheme for extra income has surged, up more than 300 per cent since the pandemic. #9News | 9 News Sydney | Facebook
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Millions of senior Australians will be able to use the equity in their homes to help build their retirement under a revamped scheme to be announced by the federal government. The Morrison government is reducing the interest rate it charges for the Pensioner Loan Scheme. It's being rebranded as the Home Equity Access Scheme, and is available to everyone over the age of 66. Older Australians will be able to get non-taxable fortnightly loans, or lump-sum payments, using their real estate as securit
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