Centrelink Home Equity Access Scheme: The Centrelink Home Equity Access Scheme (HEAS) is an Australian Government program that allows eligible retirees to unlock the equity in their homes and boost their income. Designed for older Australians who own property, this scheme provides a flexible, government-backed reverse mortgage that can help fund a more comfortable retirement.
Many seniors find themselves “asset-rich but cash-poor,” with significant wealth tied up in their homes but limited liquid income. The HEAS offers a practical solution, allowing retirees to receive regular payments or lump sums without having to sell their homes. This article will provide a detailed guide to the 2025 HEAS payment rates, eligibility criteria, and how to apply.
Centrelink Home Equity Access Scheme: Key Features
Feature | Details |
---|---|
Program Name | Centrelink Home Equity Access Scheme (HEAS) |
Purpose | Allows retirees to access home equity for extra income |
Eligibility | Age Pension age, Australian resident, property ownership |
Maximum Loan Amount | Up to 150% of Age Pension rate (fortnightly) or lump sum advance (max 50% of annual Age Pension rate) |
Interest Rate (2025) | 3.95% per annum, compounding fortnightly |
Repayment | Upon sale of property or from the estate |
No Negative Equity Guarantee | Yes – borrowers won’t owe more than the home’s value |
Official Website | Services Australia – HEAS |

The Centrelink Home Equity Access Scheme (HEAS) is a valuable option for Australian retirees who need extra income without selling their homes. With flexible payments, low interest rates, and government-backed security, it’s a smart way to make the most of home equity. If you’re considering this option, visit the Services Australia website or speak to a financial advisor to explore whether HEAS is right for you.
What is the Home Equity Access Scheme (HEAS)?
The HEAS is essentially a government-run reverse mortgage that allows Australian retirees to borrow against the value of their homes. Unlike commercial reverse mortgages, the HEAS provides lower interest rates and flexible repayment options.
How Does It Work?
- Eligible participants can receive payments either fortnightly or as a lump sum advance.
- The borrowed amount accrues compound interest at 3.95% per year.
- The loan is repaid when the property is sold or from the estate.
- Borrowers can choose how much of their home equity they want to access.
- There’s a no negative equity guarantee, meaning the amount owed can never exceed the property value.
Who is Eligible for HEAS?
To qualify for the Home Equity Access Scheme, applicants must meet the following criteria:
- Age: You or your partner must be of Age Pension age or older (67 years as of 2025).
- Residency: You must be an Australian resident.
- Property Ownership: You must own real estate in Australia that can be used as loan security.
- Financial Status: Your property must not be under bankruptcy proceedings.
- Insurance: The home must be adequately insured.
Even if you are not receiving the Age Pension, you can still apply for the HEAS if you meet the other eligibility criteria.
How Much Can You Borrow?
The HEAS allows participants to receive up to 150% of the maximum Age Pension rate. The amount available depends on factors such as:
- The value of your property
- Your age
- The amount you request
Fortnightly Payments Example (2025 Rates)
Recipient Type | Standard Pension (Max) | 150% HEAS Limit |
Single | $1,002 per fortnight | $1,503 per fortnight |
Couple (Combined) | $1,511 per fortnight | $2,266 per fortnight |
Lump Sum Advance Payments
- You can withdraw up to 50% of the annual Age Pension.
- This is limited to two lump sum withdrawals per year.
For example, if a single pensioner is eligible for an annual Age Pension of $26,052, they can request a lump sum of up to $13,026 per year.
Interest Rates & Repayment Terms
The HEAS has an interest rate of 3.95% per annum, which is much lower than standard reverse mortgages (typically 8-10% in the private market). This interest compounds fortnightly, meaning the longer the loan remains unpaid, the more it will grow.
- No required repayments during your lifetime.
- Loan is typically paid back when the property is sold.
- You can make voluntary repayments anytime without penalty.
- A no negative equity guarantee ensures you never owe more than your home’s value.
How to Apply for the HEAS
Applying for the Home Equity Access Scheme is straightforward. Follow these steps:
- Check Eligibility: Use the HEAS calculator on the Services Australia website.
- Gather Documents: You’ll need proof of property ownership, insurance documents, and financial details.
- Submit Application: Apply online via MyGov or visit a Centrelink office.
- Await Approval: Processing times vary but typically take 4-6 weeks.
- Start Receiving Payments: Once approved, you’ll begin receiving fortnightly payments or a lump sum.
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FAQs: Centrelink Home Equity Access Scheme
1. Will accessing the HEAS affect my pension?
No, HEAS payments do not count as assessable income, so they won’t reduce your Age Pension entitlements.
2. Can I repay the loan early?
Yes, you can repay the loan in full or partially at any time without penalty.
3. What happens if I pass away?
The loan is repaid from your estate or when the secured property is sold.
4. Can I use the HEAS if I have a mortgage?
Yes, but your existing mortgage must be lower than the value of your home.
5. Is there a minimum loan amount?
There is no strict minimum, but Centrelink determines how much you can borrow based on your circumstances.