Equity Release › What can I use released equity for?

What can I use released equity for?

Common uses include renovating, buying an investment property, funding a deposit, consolidating debt, or other approved purposes. Lenders generally ask what the funds are for, and some purposes are treated differently for rate and tax.

Written by Ross McFarlane, Licensed Mortgage Broker (Credit Representative 526725). About the author

Why this matters

Equity is flexible, but the purpose matters more than people expect. The reason you borrow can affect the rate, the loan type, and whether the interest is tax deductible. Spending released equity on lifestyle items is possible but rarely wise. A clear, productive purpose keeps the borrowing working for you.

The key points

Renovations, investing, deposits, or consolidating debt.
Lenders generally ask the purpose of the funds.
Purpose can affect rate and tax treatment.
A productive purpose beats lifestyle spending.

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Last reviewed: June 2026

General information only. This page provides general information about home loans and is not financial or credit advice, a quote, or a guarantee, and your personal circumstances have not been considered. Lending policies, interest rates, fees and eligibility vary by lender and change over time. Always confirm your own situation with a licensed mortgage broker or lender before acting. Ross McFarlane (Credit Representative 526725) is an authorised Credit Representative of Australian Associated Advisers Pty Ltd t/a Keylend, Australian Credit Licence 392169.