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Lifetime Home

Debt-Free Equity Release

Turn your home's equity into a steady retirement income.  No mortgage, no debt - just certainty and financial freedom.

Secure Your Retirement with Lifetime Home – A Debt-Free Equity Release Solution.

Are you 70 or older and looking for a way to supplement your retirement income without the burden of debt? With Lifetime Home, you can unlock the value of your mortgage-free home without taking on a mortgage, debt, or interest. Enjoy the certainty of regular income to support your day-to-day living, giving you peace of mind and financial freedom in your golden years.

Why Lifetime Home?

Benefits of Lifetime Home

  • Retirement Income

    Receive a steady income stream, paid fortnightly, to supplement your NZ Superannuation.

  • Living Comfortably

    Paid the same day as NZ Super, it helps supplement your retirement income needs.

  • Certainty

    You know from the outset exactly how much of your home you will still own after 10 years, providing stability and peace of mind for your retirement.

  • Debt-Free Equity Release

    Say goodbye to mortgages and loans. Lifetime Home provides access to your home's equity to supplement your retirement income without adding to your debt obligations.

  • Security

    Maintain the right to live in your home for life, subject to the terms of the Agreement, ensuring you can enjoy your retirement years in familiar surroundings.

How does Lifetime Home work?

Exchanging an interest in your home for retirement income

 

 

Equity Sold: As the homeowner, you sell Lifetime Home Limited normally 35% interest in your home, which accrues over a ten-year period (3.5% per annum).

Income Paid: Lifetime Home Limited buys the equity in your home, at normally 25% of the Initial Value (an agreed value with reference to an independent valuation), which is paid over a 10-year period (2.5% per annum less fees and charges). The purchase price is paid in regular income payments providing financial stability throughout your retirement.

Ownership: After ten years, you retain normally 65% ownership of your home, with the option to extend the Agreement if you desire.

Occupancy: After ten years, whether you choose to extend your equity release or not, you retain the right to remain in your home for as long as you wish, as long as it is safe to do so, and other terms of the Agreement are met.

Sale Proceeds: When you (or your estate) eventually sell the home, Lifetime will receive its interest of the sale price.

Shared Outcomes: When the home is sold, Lifetime share the outcome with you. If the property value has increased, Lifetime normally would share the value 65% homeowner and 35% Lifetime Home Limited. If the property value has decreased, Lifetime share the value in the same proportions.

Unlock Your Home’s Potential

Get Your Eligibility Assessment Today!

Lifetime team is ready to conduct your Home Eligibility Assessment and guide you through the next steps. It’s quick, easy, and essential for making informed decisions about your future.

Lifetime Home Eligibility

Request an Info pack here.

Frequently Asked Questions

Below are the FAQs from the Lifetime Retirement Income team to help you better understand how Lifetime Home works.

Does the home have to be sold at the end of the 10-year term?

No. You have the right to keep living in your home for as long as you wish, so long as it is safe to do so and you meet the ongoing occupancy obligations and terms of the Agreement.

If circumstances change, am I / we locked into a 10-year term?

No. You can require the whole of the home to be sold at any time. While we have no obligation to sell our interest in your home to you, you can request Lifetime to consider a request.

Can I change my mind after signing a Lifetime Home Agreement?

Yes. We strongly believe that Lifetime Home is a life-changing product for those seniors who want to tap into their largest asset to provide a more comfortable, choice-filled retirement. We also understand that selling an interest in your home is a huge, and often emotional, decision. We want you to be sure. That’s why we’ve included a 90-day ‘cooling off’ period that kicks in when you enter a Lifetime Home Agreement, allowing you to cancel at any time within this period with no penalty. You will only be required to repay any actual income received prior to cancellation.

We also encourage you to discuss Lifetime Home with your family and financial or other trusted advisers before you make your final decision. Finally, we require you to take advice from a lawyer (and preferably a financial adviser) before you sign and that your professional advisers confirm that you fully understand the contract and what it means for you.

What happens if I sell the house and move to a new one?

Lifetime Home is paid for its interest on sale.

What happens if we are a couple and one of us dies first? Does the other continue to live in the home and still get the same payments?

When entering into the Agreement both members must be aged at least 70, the payments are paid for up to 10 years from the time the Agreement commences. If a partner dies, the same payments continue for the initial period set. The surviving partner lives in the home for as long as they wish, so long as it is safe to do so and they meet the ongoing terms of the Agreement.

Is there a minimum age to enter into a Lifetime Home Agreement?

The minimum age for a single person is 70 years. For a couple both partners must be aged at least 70 years.

Can I enter into the Lifetime Home Agreement with an existing mortgage? / Can I apply for Lifetime Home to help pay off my mortgage?

No. Your home must be free of any mortgage or encumbrances to be eligible for Lifetime Home.

Does the person(s) taking out the agreement have to be the occupier? / Does the home have to be my primary residence?

Yes. Lifetime Home is not available for a beach house or an investment property.

Do I have to pay tax on the income payments?

No. The payments are capital payments for a share of the home and should not be taxable to the homeowner, subject to any changes in government policy or law.

Who is responsible for insuring the home?

You are responsible for keeping the home fully insured with a licensed insurer who has a credit rating of at least A- and approved by Lifetime, and the homeowner must pay the premiums.

Who is responsible for the rates?

You are responsible for ensuring the Home is maintained to a good standard, always insured, and rates are paid when due and at their cost.

Who is responsible for maintaining the home?

You are responsible for meeting the costs of maintaining the home in good condition.

Partnering with Lifetime

Backed by an experienced team

By partnering with Lifetime Retirement Income we are working with a team of industry experts, who can help our Members retire with confidence.

  • Ralph Stewart: Managing Director and founder

    Ralph Stewart is the former CEO of AXA and ACC. He has forty years of experience in New Zealand’s financial services sector including TOWER and Jardine Fleming. Ralph also sits on the Police Association Board.

  • Diana Crossan: Director & chairperson

    Diana Crossan is the former Retirement Commissioner of New Zealand where she played a pivotal role in establishing KiwiSaver and launching Sorted.Org.

  • Martin Hawes: Director

    Martin Hawes is one of New Zealand’s leading financial commentators and advisers. He has authored multiple books on personal financial planning, including best-selling titles “Twenty Good Summers” and “Cracking Open the Nest Egg

Testimonials

My dealings with everyone in Lifetime has been prompt, professional and understanding for which I am grateful and would not hesitate to recommend Lifetime to anyone who is interested.

Lifetime Retirement Income customer

The customer service at Lifetime is rated (according to me who has spent a career in the service industry) 9 out of 10. Giving a 10 can make folk complacent!

Lifetime Retirement Income customer

I am 64, work in finance and thought I had a fairly good handle on my retirement situation going forward. Dividing my retirement years into stages and investing accordingly hadn’t occurred to me as I am the risk adverse type, I now feel more confident and informed

Lifetime Income Retirement customer

 

About Lifetime Retirement Income

Founder and Managing Director, Ralph Stewart, began researching retirement income products in 2013, ultimately launching the first retirement income product in 2016, which was the forerunner to their latest retirement income solution.

Lifetime helps you take care of the income portion of your retirement plan by providing regular, tax-paid, fortnightly payments directly into your bank account. Their purpose is to help people enjoy their retirement with the security of an income for life. At Lifetime they have an affinity and passion for developing transparent, low-cost, high-value retirement income solutions that New Zealand retirees can have confidence in.

Lifetime has $1 billion in funds under management and is backed by a trusted Board of industry experts, including Diana Crossan. Diana served as the Retirement Commissioner from 2003 to 2013 and contributed significantly to the development of KiwiSaver in New Zealand.

Activate your Membership to take advantage of our special offers & discounts today Activate your Membership now
(*) Terms and conditions
 
The discount is only applied when you make a Will or EPA online. The discount won't be applied to an in-centre will or in-person consultation EPAs

We may receive a compensation payment from Lifetime Retirement Income when you obtain their products and/or services through your membership of HealthCarePlus. This enables us to provide you with Membership Benefits and the management of the charitable grants.