$2,587 Centrelink Home Equity Access 2025 – Unlock Extra Cash Easily!

For many Australian retirees, covering everyday expenses while holding onto the family home is a delicate balance. The Home Equity Access Scheme (HEAS)—formerly known as the Pension Loan Scheme—offers a smart solution.

Eligible Age Pensioners and other recipients can use the equity in their home to receive fortnightly income—up to 150% of the maximum pension rate, equating to around $2,587 every two weeks for some.

This innovative scheme provides a lifeline without forcing homeowners to sell their property.

What Is HEAS and Who Qualifies

The Home Equity Access Scheme is a voluntary, non-taxable government loan using your home as collateral. Here’s who qualifies:

• You or your partner must be of Age Pension age or older.
• You must currently receive—or be eligible for—an Age Pension, Disability Support Pension, or Carer Payment.
• You must own real estate in Australia you can use as loan security.
• Property must be appropriately insured, and applicants must not be bankrupt.
• You’ll need independent legal or financial advice before applying.

How Much You Can Receive

HEAS allows retirees to supplement their pension with a loan up to 150% of the maximum fortnightly pension rate. Here’s how it works:

Scenario	Details
Fortnightly Top-Up	Total loan + pension ≤ 150% of max pension rate
Maximum Advance	Up to 50% of annual pension rate as lump sum, twice in a 26-fortnight period
Interest Rate	3.95% per annum, compounded fortnightly
No Negative Equity Guarantee	Loans cannot exceed home value (minus existing encumbrances)
Repayment	No repayments needed until property sold or death; optional repayments allowed

For instance, a pensioner receiving the full Age Pension could top up to 150%—effectively increasing fortnightly income to around $2,587 every two weeks, depending on the current maximum rate.

How It Works—Fortnightly vs Lump Sum

• Fortnightly Payments: Receive a steady top-up alongside your pension. The loan amount adjusts automatically if your pension changes.
• Advance Payments: Access a lump sum equivalent to up to 50% of the annual maximum pension rate, twice within a 26-fortnight period. Taking a lump sum reduces your fortnightly payment for the next period.

Example: A retiree receiving $1,149 per fortnight in Age Pension could top up with up to $574.50 in HEAS—reaching the full 150% limit.

Interest, Security & Repayment

• The scheme charges 3.95% interest, compounded every fortnight.
• Your home is used as security, but thanks to the No Negative Equity Guarantee, your estate won’t owe more than the property’s value.
• You can voluntarily repay at any time, or repay when your property is sold—or upon your death. The loan can also be transferred to a new home if needed.

HEAS Matters

• Non-taxable income, offering financial flexibility.
• Helps retain the family home while unlocking funds for living costs, healthcare, or lifestyle needs.
• Ideal for self-funded retirees or those whose pension is limited by assets.
• Built-in protections like compound interest tracking and no-negative equity ensure fairness.

The Home Equity Access Scheme (HEAS) offers a valuable, flexible option for retirees to access home equity and supplement their pension—without selling their home.

With fortnightly top-ups, optional lump sums, low interest (3.95%), and strong equity protections, HEAS can empower seniors to manage costs of living confidently and comfortably.

If you’re eligible, consider using the calculator on the Services Australia site—and don’t skip expert legal or financial advice tailored to your situation.

FAQs