Using a Heartland Seniors Finance Reverse Mortgage for a holiday
You’ve worked hard across decades and, now in your retirement, it’s time to take a load off and relax. Perhaps you want to join the 1.7 million Australian over-60s taking overseas holidays each year! Whether you’ve been dreaming of a ‘bucket list’ escape, an Australian caravanning adventure, or taking a trip to see the grandkids, there is now nothing holding you back from your trip of a lifetime. Except money.
Whether you are living on a government pension or a self-funded retiree, finding the spare cash for holidays can be difficult, particularly when competing with more immediate priorities such as utilities and other everyday bills, home maintenance and medical expenses.
Faced with only personal loans or credit cards to finance a trip, many seniors simply miss out on travelling during retirement. But Heartland has another option.
Travel or visit your relatives with a Heartland Reverse Mortgage
Heartland Seniors Finance offers a reverse mortgage loan that could fund your next holiday. With an interest rate that can be lower than credit cards or personal loans, accessing the funds in your property with a Heartland Reverse Mortgage could provide you with a cost effective and flexible alternative.
One of the benefits of using a reverse mortgage to fund travel is that regular loan repayments are not required. The interest is calculated on the balance outstanding, and added monthly to your loan. Voluntary repayments can be made at any time if you choose, which reduces the balance and interest charged. At the end of the term of your loan, when you move permanently from your home, the total interest charged, together with the amounts drawn, will be payable.
Not having regular loan repayments can reduce stress and free up cash flow, giving you the peace of mind to live a more comfortable retirement!
At Heartland, over 25% of customers use their reverse mortgage to pay for a trip. But don’t just take our word for it, here’s what some of our customers have to say:
"My Heartland loan enabled me to travel, help family members and purchase a new car. I will be recommending your services to my friends."
"It is so wonderful not to be paying a mortgage now - I have enough money to have a life!”
“I can now go on my cross country tour!”
So start packing your bags today!