It’s finally here, a home loan without regular payments

A new way to borrow, designed for responsible borrowers.

Unlock your busy mid-life with an Australian first, Midkey.

Two mortgage options

We can lend either via a first or second mortgage
(where our second mortgage would sit behind your first mortgage).


we may be able to lend you up to 35% of your home's value


we may be able to lend you up to 30% of your home's value or up to 80%% Loan to Value Ratio**

*where you have a first mortgage plus a Midkey "No Monthly Payments" Loan
**the total of your first mortgage home loan and your Midkey "No Monthly Payments" Home Loan as a proportion of your home’s value

What will it cost me?

A Midkey is a "No Monthly Payments" Loan. Its simple interest and payments are not paid until the end of the loan.

No monthly payments or ongoing fees
No compound interest (simple interest only)
Low interest at roughly 1% - 2% higher than a traditional home loan
An innovative, once-off Midkey Deferral Fee at the end, which is a proportion of any increase in your home’s value, agreed at the start. No increase, no Midkey Deferral Fee*
Variable simple interest2

At a rate that is approximately 1% to 2% higher than a traditional compounding, variable interest home mortgage.

A fixed proportion

A fixed proportion of any increased value of your home3 aligning our outcomes with your outcomes.

*Additional fees include an establishment fee and incidental fees (being loan processing and valuation fees). No ongoing fees.


Now with Midkey

You cannot access additional debt

Your home’s value has risen faster than your debt, and you have some excess home equity. The bank is unwilling to provide you with more traditional debt because your income has not increased at the same rate as your house. You would like to renovate, pay for education, go on a holiday or make other important payments.

Enjoy your excess equity now

Use a Midkey "No Monthly Payments" Loan to access your useable home equity. You are free to use it to renovate your home, pay for education, go on a holiday or make other important payments (subject to eligibility criteria).

You are struggling with the regular payments on your debt

Interest rate rises and increases in the cost of living are impacting your lifestyle and making it harder to make the monthly payments on your traditional debt.

Reduce your regular debt payments

If you have useable equity in your home, you can use a Midkey to reduce or replace your traditional debt and, in doing so, reduce or eliminate your regular monthly interest and principal repayments (subject to eligibility criteria).

How does it work?

Use the sliders to add your home loan details and your Midkey loan requirements into our dynamic calculator to see how it works and get an estimate.

How much is your home worth (estimate)?


How much do you owe on your mortgage (existing or intended, excluding offset)?


How much would you like to borrow from Midkey?


In how many years do you expect to repay your Midkey loan?

1 years
30 years

Estimate how much your home value will change (during your Midkey loan)

-20 %
100 %

Simple interest rate on your Midkey loan (currently 7.6% p.a.)

Property value End of Midkey
loan outcome
Your property value at start of Midkey loan $
The Agreed Initial Value (after 5% discount)1 $
Your property value at end of Midkey loan $
Change in your property value (during Midkey loan) $
What you will owe Midkey
Amount we lent you (at the start) $
Interest payable at end of Midkey loan2 $
Midkey Deferral Fee3 $
Total you owe to Midkey4 $
Yearly cost of your Midkey loan4 %
Your home equity (remaining value)
Remaining balance on your 1st mortgage5 home loan $
Your remaining home equity6 (estimate) $
This calculator is provided for illustrative purposes only. The actual outcomes of loans will vary and depend on currently unknown variables, such as asset valuations, changes in property values, loan terms, interest rates, approved loan sizes, etc.
1 The 5% initial valuation discount allows Midkey to provide short-term loans (as well as long-term loans) that are still economically viable for Midkey and its investors.
2 The Midkey loan interest rate is set at a premium to the RBA Cash Rate (typically, this is a 3.25% premium).
3 In exchange for deferring all your principal and interest payments to the end, a Midkey Deferral Fee must be paid at the end of your loan. The Midkey Deferral Fee is a proportion of any increase in your property’s Agreed Initial Value. The proportion is your Midkey loan amount to your property’s Agreed Initial Value and is agreed at the start of the loan. For example, if your Midkey loan is 10% of your property’s Agreed Initial Value, the fee proportion for your Midkey Deferral Fee is 10%.
4 Excluding fees such as: an establishment fee of 1.5% of the loan value, with a minimum of $3,000, valuation fees at the start and the end of the Midkey loan (range: $330 to $2,650 per valuation depending on the property’s value. If the property’s value exceeds $5 million, a valuer’s quote must be obtained), document preparation costs and out-of-pocket expenses (approx. $450), a registration fee ($187) and a discharge fee ($500).
5 This is an estimate and assumes a 30-year 1st mortgage whose interest rate is 1% p.a. lower than the simple interest rate payable for your Midkey loan.
6 After deducting the principal amount of the Midkey loan, the Midkey interest payment, the Midkey Deferral Fee, and the mandatory 1st mortgage home loan principal payments (note: the Midkey fees set out in footnote 4 above have not been deducted to calculate the estimate).

Do I qualify?

To qualify for a Midkey “No Monthly Payments” Loan:

Your property, or the one you intend to buy, needs to be a house or townhouse located in Sydney, Brisbane, Adelaide, Perth, Hobart and Canberra (more soon!).

If you are applying for a second mortgage, your first mortgage needs to be a "principal plus interest" loan.

You need to have at least 20% useable equity in your home (where useable equity is the amount by which your home’s value exceeds the amount of your existing home loan).

You need to be an Australian citizen over the age of 18.

Your application needs to be approved by us.

Join our waitlist

We will soon provide Midkey loans for other property types, like apartments, and for properties located in more Australian cities.

You are welcome to join our waitlist so we can let you know when we expand to these other property types and cities.
Your name
Email address
Property type
How much do you expect to borrow with a Midkey?
Borrower type
How did you hear about Midkey?
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.


It is important to Midkey that you understand how this new solution works before you apply. We have covered all the most Frequently Asked Questions here so please click this link.

We are passionate about offering
this new solution

The Midkey “No Monthly Payments” Loan was designed to provide new opportunities for Australian borrowers who are unable to access more debt with a traditional lender.

Check Eligibility