Centrelink Home Equity Access Scheme 2025: If you’re looking for a way to supplement your retirement income without selling your home, the Centrelink Home Equity Access Scheme 2025 (HEAS) may be the perfect solution. This innovative Australian Government initiative enables older Australians to tap into the value of their home equity in a safe and manageable way. As housing remains one of the most valuable assets for many retirees, HEAS allows you to unlock that value—without having to move or sell.
Designed with flexibility and security in mind, this scheme has grown in popularity and importance as the cost of living continues to rise. It offers retirees and older Australians a powerful financial option to stay independent and comfortable during their golden years. Whether you’re receiving a part pension, full pension, or no pension at all, HEAS offers opportunities worth considering.
In this comprehensive guide, we’ll walk you through all aspects of the Home Equity Access Scheme (HEAS) for 2025, including benefits, eligibility, how much you can borrow, repayment details, interest rates, and key payment dates. Whether you’re a retiree managing a tight budget, a homeowner planning for long-term care, or a financial advisor supporting older clients, this guide is tailored to your needs.
Centrelink Home Equity Access Scheme 2025
| Feature | Details |
|---|---|
| Scheme Name | Home Equity Access Scheme (HEAS) |
| Eligibility | Age Pension age or older, Australian resident, own property in Australia |
| Maximum Combined Payment | Up to 150% of the maximum fortnightly Age Pension |
| Interest Rate | 3.95% p.a., compound, applied fortnightly |
| Payment Types | Fortnightly, lump sum (up to 2 per year), or combination |
| No Negative Equity Guarantee | Yes |
| Recent Update | $5,000 one-time Centrelink cash boost in 2025 |
| Payment Start Date | Mid-March 2025 |
| Official Website | Services Australia |
The Centrelink Home Equity Access Scheme 2025 stands as one of the most effective financial solutions for older Australians looking to boost their income while staying in the home they love. It offers a rare combination of flexibility, safety, and affordability, all under the watch of the Australian Government.
What is the Centrelink Home Equity Access Scheme?
The Home Equity Access Scheme (HEAS) is a government-operated reverse mortgage-style program managed by Services Australia. It allows eligible older Australians to receive regular fortnightly payments or lump sums by borrowing against the value of their home or property. Unlike private reverse mortgages, HEAS offers more favorable terms, including lower interest rates and protections backed by the government.
Think of it as a reverse pension top-up—instead of drawing income from your super or investments, you’re accessing your own home equity. And you remain the owner of your home throughout the process.
Why People Choose HEAS:
- To bridge the gap between pension income and everyday expenses
- To fund in-home care, renovations, or medical costs
- To avoid downsizing or selling the family home
Key Benefits Include:
- Receive up to 150% of the maximum Age Pension rate
- Choose between regular payments, lump sums, or a mix of both
- Enjoy a low fixed interest rate of 3.95% p.a.
- Be protected by the No Negative Equity Guarantee, ensuring your estate won’t owe more than the value of your property
Who is Eligible for the HEAS in 2025?
To be eligible for the HEAS, applicants must meet the following criteria:
- Be of Age Pension age (67 years or older as of 2025)
- Be a resident of Australia and currently living in Australia
- Own real estate in Australia, which will be used as security for the loan
- Be eligible to receive a pension, even if you don’t actually receive one due to asset or income limits
You do not need to be receiving a pension to qualify for HEAS—being eligible is enough. This means self-funded retirees who meet age and residency requirements can also apply.
Eligible properties can include your principal place of residence or other real estate assets in Australia. Your property’s value and your age will determine the amount you can borrow.
How Much Can You Get Under the HEAS?
The HEAS lets you borrow an amount based on a percentage of your property’s equity. The exact amount is influenced by your age, your partner’s age (if applicable), and the value of the real estate you use as collateral.
If you’re 70 years old and own a $600,000 home with no mortgage, you could potentially access tens of thousands of dollars in supplemental income.
Example:
Let’s say the full Age Pension rate is $1,096.70 per fortnight for singles (March 2025):
- You can receive your regular Age Pension of $1,096.70
- Plus an HEAS top-up of $548.35 (50%)
- Total Income: $1,645.05 per fortnight
You may also request lump-sum payments of up to 50% of the annual maximum pension rate, limited to two lump sums per 26-fortnight period.
To understand what you’re eligible for, you can use the official HEAS Calculator.
Interest Rates and Repayment: What You Need to Know
The interest rate for HEAS is 3.95% per annum, compounded fortnightly. This rate is competitive compared to traditional reverse mortgages and remains fixed once you enter the scheme. Interest accumulates over time, and repayments aren’t required until the home is sold or the individual passes away.
No Negative Equity Guarantee
One of the most important features of the HEAS is the No Negative Equity Guarantee. This ensures that you or your estate will never owe more than your property is worth. So, if property prices decline, you’re still protected.
You can choose to make voluntary repayments at any time to reduce the accruing interest. This gives you flexibility and control over your long-term financial plan.
What’s New in 2025: $5,000 Centrelink Cash Boost
In response to increasing inflation and cost-of-living pressures, the federal government introduced a $5,000 one-time payment to eligible Australians in 2025. This cash boost aims to provide additional financial support during a time of economic uncertainty.
Who Qualifies?
- Pensioners and those eligible for Centrelink benefits
- Recipients of the HEAS (if other eligibility criteria are met)
When Will It Be Paid?
- Payments began mid-March 2025 and will continue rolling out to eligible recipients
How Do I Apply?
- No application is necessary. Payments are automatic for those who meet the criteria. Check your myGov account or contact Services Australia to confirm.
How to Apply for the Home Equity Access Scheme
Applying for the HEAS is a relatively simple process. Here’s a detailed guide to help you navigate the application:
Step 1: Confirm Eligibility
Use the Services Australia eligibility checker to see if you qualify.
Step 2: Prepare Documentation
Gather essential documents including:
- Proof of identification
- Property ownership documents (title deed, recent valuation)
- Financial statements if required
Step 3: Submit Application
Apply via your myGov account by linking it to Centrelink. Navigate to the HEAS section and follow the prompts.
Alternatively, you can:
- Visit your nearest Centrelink service centre
- Call Services Australia for help with the application process
Step 4: Property Assessment & Approval
Services Australia will assess your home and calculate how much equity you can access based on your property’s value and your age.
Step 5: Receive Payments
Once approved, you can choose how you’d like to receive your loan: fortnightly, in lump sums, or a combination. You’ll also receive statements showing interest and balances.
Real-Life Example: How HEAS Works
Margaret, 72, Adelaide Margaret owns her $500,000 home outright but doesn’t qualify for a full pension due to her savings. She wants to avoid selling her home or dipping into her super. After applying for HEAS, she starts receiving $600 every fortnight, which supplements her pension and gives her breathing room. Best of all, she doesn’t need to make any payments until her home is eventually sold.
John and Elena, 78 & 75, Brisbane This couple needed funds to cover unexpected medical expenses. Through HEAS, they received a lump sum advance and additional fortnightly payments, all without impacting their homeownership or other entitlements. It offered them peace of mind and flexibility during a challenging time.
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Frequently Asked Questions (FAQs) about Centrelink Home Equity Access Scheme 2025
Is the Home Equity Access Scheme safe?
Yes. It is administered by the Australian Government and includes safeguards like the No Negative Equity Guarantee.
Will I lose my home?
No. You retain ownership and control of your property. The loan is only repaid when the home is sold or from your estate.
Can I repay early?
Yes. You can make voluntary repayments at any time without penalties.
Does it affect other government benefits?
No. Payments received through HEAS do not count as income for other Centrelink benefits.
Can people with an existing mortgage apply?
Yes. However, the amount you can borrow will depend on how much equity remains after your mortgage is accounted for.
Can I exit the scheme?
Yes. You can exit at any time by repaying the loan, either voluntarily or through the sale of your property.
