By Jason Given - June 2026 - 6 min read
Yes, you can. There is no law in Australia that prevents someone over 60, 70, or even 80 from getting a home loan. What changes is how lenders assess the application. They are not looking at your salary anymore - they are looking at your pension income, superannuation balance, investment returns, and how you plan to repay the loan within the term.
The reality is that plenty of retirees in Adelaide have good income, strong equity positions, and solid financial standing. The challenge is finding lenders whose policies match, and that is where a broker adds real value.
Lenders will consider several types of retirement income:
Responsible lending requires that lenders are satisfied the loan can be repaid without substantial hardship. For older borrowers, this means having a clear exit strategy. Common exit strategies include:
Selling the property: If you are buying a larger home now with plans to downsize later, the sale proceeds repay the loan. This is a common and accepted strategy.
Super lump sum: If you have a substantial super balance, some lenders will accept a plan to draw down a lump sum to clear the loan at a future date.
Shorter loan terms: Instead of a 30-year term, a 10 or 15-year term with higher repayments may fit better and satisfy the lender's requirements.
A reverse mortgage allows you to borrow against your home equity without making regular repayments. The interest compounds and is added to the loan balance, which grows over time. The loan is typically repaid when you sell, move into aged care, or pass away.
This can be useful for retirees who are asset-rich but income-poor - you have a valuable home but limited cash flow. However, the compounding interest means the loan balance can grow quickly, and you or your estate will receive less when the property is eventually sold.
Australian reverse mortgages have a negative equity guarantee, meaning you will never owe more than the property is worth. But it is still important to understand the long-term impact before proceeding.
For many retirees in Adelaide, downsizing from a larger family home to a smaller property is a practical way to free up cash without taking on new debt. The equity difference between selling a four-bedroom home in an established suburb and buying a smaller unit or townhouse can be substantial.
If you are over 55, you may also be eligible to contribute up to $300,000 from the sale of your home into your super through the downsizer contribution, which can boost your retirement income.
If you own your home outright or have significant equity, you have options beyond reverse mortgages. You could refinance a portion for a specific purpose - renovating to age in place, helping a family member with a deposit, or funding a major purchase. The key is structuring the loan so the repayments are comfortable on your retirement income.
Lendology's approach: We work with retirees regularly and know which lenders have the most sensible policies for older borrowers. Every situation is different, so book a free chat and we will find the right solution for yours.
There is no legal age limit for home loans in Australia, but lenders need a clear exit strategy - how the loan will be repaid by the end of the term. Most lenders will assess applications where the borrower will be over 65-70 at the end of the loan term more carefully. They want to see evidence of ongoing income (pension, super, investments) or a plan to sell the property. Some lenders are more flexible than others, and Lendology knows which ones work best for older borrowers.
Yes. Most lenders accept the Age Pension, account-based pensions from super, and other regular pension income when assessing your borrowing capacity. Some lenders will gross up Centrelink income by 20-30% because it is tax-free, which can improve your borrowing power. The key is showing the income is regular and will continue for the life of the loan.
A reverse mortgage lets you borrow against your home equity without making regular repayments. Interest is added to the loan balance over time, and the loan is repaid when you sell the property, move into aged care, or pass away. It can provide income in retirement, but the loan balance grows over time, which reduces the equity you or your estate will eventually receive. It is worth understanding all the options before going down this path.