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What is a Village Access Loan?

A Village Access Loan allows older Kiwis to release some of the equity in their home to fund their entry into a retirement village. Most importantly, you don't have to repay the loan right away. You can take time to plan your move to your new retirement village home.

Download an application form

How does it work?

With a Village Access Loan, you don't need to make regular repayments. Interest is calculated on the outstanding balance and added monthly to your loan (compounded). Voluntary repayments can be made at any time, which reduces the balance and interest charged.

The total loan amount, including accumulated interest, must be repaid within three years. This could occur when you sell your property.

To be eligible, you need to be aged 60 or over, own your own home outright, or have a standard mortgage that can be paid off by the Village Access Loan. The amount you can access depends on the value of your home. The maximum amount you can access will be up to 50% of the value of your home.

Learn more in our Village Access Loan Fact Sheet

Heartland’s responsible lending criteria, terms, conditions and fees apply.

How am I protected?

We take our duty of care seriously and have a range of safeguards in place to ensure you make an informed decision and are well protected*.
Loan repayment promise You do not need to make any loan repayments until the end of the loan. Although you can choose to make repayments at any time with no penalty, a mortgage discharge fee will apply when your loan is repaid in full.
Equity protection option You can choose to protect a percentage of the eventual net sale proceeds of your home. When your loan is repaid, you’re guaranteed to have this chosen percentage returned to you (up to 50%).
30-day cooling off period It’s important you feel comfortable with your decision. If you change your mind within 30 days, simply repay your loan (including interest and valuation fee), and we’ll refund the application fee in full.
Independent legal advice It's important that you are completely happy with all aspects of your Heartland Village Access loan. To ensure this, the legal advice on your loan agreement must be carried out by a solicitor of your choice, who will represent your interests and work with you to explain and discuss your loan.
*Subject to complying with the terms and conditions of the Heartland Village Access Loan.

Your Village Access journey

Get in touch A specialist will explain what a Village Access Loan is and take you through the application process. There’s no commitment, you can change your mind at any time.
Property valuation After you’ve completed your application, we’ll value your property to determine how much you can borrow.
Approval We’ll review the valuation and your application. Provided they meet our criteria, we’ll make you a loan offer.
Settlement We’ll send your loan documents to your solicitor who must provide you with independent legal advice. If you proceed, the documents can be signed and returned for settlement.
[email protected] The Village Access Loan team will get back to you within one business day.
Call us on 0800 225 373 Monday to Friday,
8.30am - 5.00pm
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