Homeowners
Of Age Pension age
You own your home or other Australian real estate, and you have reached Age Pension age, currently 67.
What we offer
Pension Top-Up
A fortnightly top-up to your pension through the Government's Home Equity Access Scheme, secured against your home. We prepare and lodge the application for you, and you keep living in your home.
What it is
The Home Equity Access Scheme is run by Services Australia, part of the Australian Government. If you are of Age Pension age and own real estate in Australia, you can receive a fortnightly payment, and in some cases a lump sum advance, secured against your property. The loan is repaid later, usually when the home is sold. You do not need to be receiving the Age Pension to apply.
Interest is charged at 3.95% a year, set by the Government, and compounds every fortnight. There are no repayments while you live in your home, and you can repay some or all of it at any time without penalty.
Care Advance is not affiliated with or endorsed by Services Australia. The Government sets the Scheme's rules, rates and limits, and they can change. Check the official Services Australia page for current details.
Eligibility
Who can apply
Most homeowners of Age Pension age can apply. These are the Scheme's main conditions. We check them with you on the first call.
You need to
- Be of Age Pension age, currently 67, or have a partner who is
- Own real estate in Australia, with your name on the title
- Have the property insured
- Not be bankrupt or under a personal insolvency agreement
- Agree to the Government registering a charge over the property
Good to know
- Self-funded retirees can apply. You do not have to receive the pension
- Couples apply together, and the younger partner's age is used
- Co-owners must agree and sign their part of the application
- Homes in retirement villages and relocatable homes are usually not eligible, because the Scheme needs a land title
How much you could receive
Each fortnight, your Scheme payment and any pension you receive can add up to 150% of the maximum Age Pension rate. If you do not receive the pension, you can receive the full amount. In some cases you can also take a lump sum advance, which reduces the fortnightly payments that follow.
The total you can borrow over time depends on your age and the value of the home. You can choose a lower amount than the maximum, change it, pause it and restart it, and you can set aside part of your home's value so it is never borrowed against.
Calculator
How much could the Scheme pay you?
See what the Scheme could pay each fortnight for your age and home, next to what a Care Advance Loan could provide. It takes about a minute.
Try the calculatorNo personal details needed.
Who it may suit
People the Scheme often helps
Whether it suits you depends on your circumstances, and we work that out with you in the first conversation. These are the people it most often fits.
Care at home
Wanting a steady amount
You would like a regular fortnightly payment to pay for care and support at home, at the Government's low rate.
Families
Preferring a Government scheme
You like the certainty of a scheme whose rate and rules are set by the Government.
What we do
Five steps from the first call to the first payment.
Check eligibility
With you, on the first call
We check your age and that you own real estate in Australia, the two basics that decide whether the Scheme is open to you.
Prepare the application
From your answers
The official form is long. We complete it for you from a short set of questions, so what you sign is right the first time.
Sign it
By hand, with a witness where needed
We show you where to sign, and who can witness the declarations that need it.
Lodge it
With Services Australia
We check everything and lodge the application. Couples confirm their identity in person at a service centre, and we help you book it.
Follow it through
Until the first payment
If Services Australia writes asking for more, often with 14 days to reply, we help you answer, and we keep track of the estimated completion date with you.
Documents you will need
Identification, a recent council rates notice, your building insurance details, and the latest statement for any loan still on the property. We obtain the title search for you.
How long it takes
Services Australia sets the processing time. When it receives your application, it gives an estimated completion date, and we keep track of it with you.
What it costs
The first conversation is free. If you ask us to prepare your application, we set out any fee in writing before we start, and you decide whether to go ahead.
Talk it through with us.
The first conversation is free, with no obligation.
Make an enquiry
or call 1300 144 627