Maximum loan amount

We base your maximum loan amount on your or your partner’s age and your security for the loan.

The maximum loan amount generally increases each year as you or your partner get older. This is because your age component increases with your or your partner’s age.

Changes to the value of the real estate you use as security will also affect your maximum loan amount. If the value increases each year, your maximum loan will also increase. If the value decreases then the maximum loan will also decrease.

Your fortnightly loan payments will stop once your loan balance reaches your maximum loan amount. Interest will continue to add to the outstanding balance until you repay the loan in full.

To work out the maximum loan amount we reduce the security value down to the nearest 10,000. Then we divide it by 10,000 and multiply that by the age component amount.

You can make a request to change the maximum loan amount at any time. This request must be in writing. You and any other people, trusts or companies who have ownership in the property must sign it.

If you’re a member of a couple, your partner must sign the request even if they don’t own the property.

Page last updated: 28 January 2020