For homeowners aged 65 and over
A monthly income from the home you already own
Keep living in your home. Receive money every month. Repay nothing until the end of the term.
Estimate releasing 20% of your home over 8 years, at prime (10.75%) plus 4%. Illustrative only; not an offer of credit.
- to repay each month
- R0to repay each month
- the home stays in your name
- Yoursthe home stays in your name
- your case owner, start to finish
- 1 personyour case owner, start to finish
How it works
Four steps, at your pace, with the same person throughout.
- 01
Talk to a person
Your own case owner calls you. Bring your family or adviser if you like.
- 02
See your numbers
A plain-language illustration for your home, worked out to the cent.
- 03
Apply when you're ready
Six short steps, saved as you go. We check the rest ourselves.
- 04
Get paid each month
Into your own bank account, rising every year. Nothing to repay monthly.
Every rand, up front
You see what you receive, what you owe and what you keep, before you decide anything. For a R5 000 000 home and an owner aged 70:
- You receive R8 727 a month in year 1, rising to R12 280: R1 000 000 in total.
- After 8 years you owe about R1 874 839, interest and fees included.
- If the home then sells for R6 333 850, you or your estate keep about R4 015 642.
Is it right for you?
We would rather tell you now than after you’ve applied.
It may suit you if
- You own your home outright, with no bond
- You want a regular income without selling up
- You plan to stay in your home for the coming years
Think carefully if
- You want to leave your home, debt-free, to your family
- You'd need to stay longer than 8 years without selling or refinancing
- A smaller home or other savings could meet your needs
A person, always. Never a call centre.
From your first call to the day the loan is settled, you have one named case owner. Your son, daughter or adviser is welcome on every call.
Questions, honestly answered
Do I still own my home?
Yes. You keep living in it and it stays in your name. We register a bond over it, the way a bank does for a home loan.
Do I have to make monthly repayments?
No. Interest (currently 14.75% a year, prime plus 4%) and a R69 monthly fee are added to what you owe instead.
What happens at the end?
The loan has a fixed end date: it becomes repayable after 8 years, or sooner if what you owe reaches 40% of your home's value. It is usually repaid by selling the home, from other funds, or with an extension, which is a new credit decision. We start that conversation at least a year before.
Could I end up owing more than my home is worth?
No. You, or your estate, can never owe more than the home sells for.
Can my family be involved?
Yes, and we encourage it. You can name someone to see your documents and join calls. Making decisions on your behalf needs a power of attorney.
What does it cost to start?
A once-off R5 550 fee, added to the loan rather than paid in cash, and R69 a month after that. Your illustration shows every cost in rand.