Frequently Asked Questions

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.

Have a question?

We would love to hear from you.



Postal Address

PO Box 10760, Wellington, 6140

Physical Address

Level 3, 120 Featherston St, Wellington Central, Wellington 6011