Existing Customer Information

This information is provided to each customer upon settlement of their loan, in hard copy, as the New Customer Guide.

If you have any other questions, or require further information regarding your loan, please do not hesitate to contact our Customer Care Team on 1300 889 338 or [email protected]. We are here to help you.

Answers to frequently asked questions

In January and July each year (regardless of your loan’s settlement date).

The statement details the transactions on your loan over the previous period, including interest, any applicable fees and charges, and whether you have any additional funds available.
Completion of Heartland’s Annual Questionnaire is required under your loan agreement. Its purpose is to confirm that your rates and insurance are up to date, and that the property is being maintained.

You will receive the questionnaire on the anniversary of your loan commencement, every year. It must be completed, signed and returned within a month.
To draw funds out of your Cash Reserve Facility, you simply need to complete a Cash Reserve request form. Please contact our friendly team to obtain this form.
Interest is calculated on the daily balance, and added to the loan monthly. At the end of the term of your loan, when you move permanently from your home, the total interest charged, together with the principle will be payable.

See our interest rate page for more information on our rates.
No. There is no requirement to make any loan repayment until the end of the loan. Heartland does offer the flexibility to repay the loan partially, or in full, at any time without paying penalty charges.
You can make repayments at any branch of the Commonwealth Bank or via internet banking. You can also set up a regular direct payment with your bank.

Please be sure to include your loan number and your last name in the transaction description. This is essential, as it enables us to correctly identify your loan repayment.

You can find your loan number on your Settlement Letter, as well as any subsequent Statements. We can also confirm your loan number over the phone for you on 1300 889 338.

Our account details are:

Account name: ASF Custodians Pty Ltd
BSB: 063-000
Account number: 1107 3189
A Standard Reverse Mortgage is usually repayable within 12 months of when you move permanently from your home (the security property), or upon sale of the security property.

A Secondary Property Loan is usually repayable within 12 months of when you move permanently from your owner occupied home (or primary residence), or upon sale of the security property.
We understand that this can be a stressful time. While you will need to notify Heartland and provide us with a death certificate, provided you are a Nominated Borrower, you will continue to have Lifetime Occupancy of your home – and can live there for as long as you choose.
If you move into another house, you can apply to transfer your Heartland Reverse Mortgage to your new home. This is also the case for a Secondary Property Loan when moving from your primary residence (home). The assessment of this application will be based on the age of the youngest person applying, the new property and its value, and the current loan amount outstanding.

Please contact us to discuss whether taking your loan with you could be a solution, and your eligibility.
If you have available redraw, this will show on your loan statement. To access redraw, you will need to complete a request form. Please contact our friendly team to obtain this form.

A drawdown fee applies - please refer to our current fee schedule.
When your cash reserve facility (if any) is fully drawn you can apply to increase your total loan amount. Increases are based on the age of the youngest person applying, the current property value, and the total loan balance at the time of application.

Fees will apply and a new valuation of your home may be required. This will be confirmed at the time of application.

If you wish to take out a further loan, please contact our friendly team to discuss your situation and if there could be possible funds available.

Applications are subject to loan approval criteria. Terms, conditions, fees and charges apply. Heartland's current fee schedule can be found here.
Moving in to aged care can be an expensive and stressful process. There are often a number of things to consider, including how to pay for the care and if you are going to sell or keep your property.

Though the total loan is usually repayable when you move permanently from your home, you may be able to vary your Reverse Mortgage to our Aged Care Option.

More details regarding our Aged Care Option can be found here.

Please contact us to discuss whether an Aged Care Option could be a solution, and your eligibility. Applications are subject to loan approval criteria. Terms, conditions, fees and charges apply. Heartland's current fee schedule can be found here.

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