Your combined loan and pension payment each fortnight can’t be more than 150% (1.5 times) of your maximum pension rate.
If your pension changes, your loan payments will automatically adjust too. This is so it doesn’t go over the 150% of your pension rate or the payment rate you choose.
If you don’t get a pension you can get up to the maximum amount of the Home Equity Access Scheme as a loan payment.
Choose your payment amount
You can choose to get your loan payment each fortnight at one of these 3 loan rates:
- the maximum amount which is 150% of your maximum pension rate each fortnight
- a smaller percentage
- a fixed loan amount that you choose.
We’ll automatically adjust how much loan you get whenever your pension amount changes. This will stop your payments going over the 150% cap or your chosen loan amount.
Use the loan calculator to check any of the following:
- your maximum loan amount
- what a loan might look like for you in the future.
Maximum loan amount
Once your Home Equity Access Scheme loan balance reaches your maximum loan amount, your payments will stop.
Choosing your loan amount
You can choose the amount of the loan you get each fortnight. This amount can be up to 150% of the maximum pension payment rate you qualify for.