Around 80% of retirees receive an age pension. With compulsory superannuation only coming into effect in 1993, it’s likely that Australians working during the 50s, 60s and 70s have not accumulated enough super to fund what is considered a ‘comfortable retirement’.
On a limited income, you could be finding it increasingly difficult to make ends meet. You are not alone. Many Australians in retirement have rising cost of living pressures and bill stress.
You may worry about switching the heater on in winter, and finding the money to pay for medical expenses, a car service or even a trip to visit the grandkids can be tough. An option to help ease the squeeze is to release home equity with a reverse mortgage.
Take the stress out with a Heartland Reverse Mortgage
A Heartland Reverse Mortgage can help to take the stress out of every day by supplementing your income using our regular advance option.
More than a quarter of our customers take out a Heartland Reverse Mortgage to help supplement their income to pay for their bills, living expenses and unexpected costs such as heating, car repairs or a trip to visit the grandkids.
Interest is only charged on the balance outstanding, so the savings over time can be substantial when compared to drawing a large lump sum. No regular repayments are required, though can be made at any time, and the debt is repaid from the future sale of the property.
What our customers have to say
“It provided us with great relief when we found ourselves with no super left and needed to tidy up our finances.”
“It’s helped us to obtain a more enjoyable lifestyle.”
“Thank you for your continued help and support. Always just a phone call away.”
Benefits of using a reverse mortgage for day-to-day expenses
No need to move
Remain the owner of your home, benefitting from any increases in home value.
Peace of mind
Have peace of mind knowing you have access to equity in your home without having to sell.
Flexible cash flow
Take your loan as a lump sum, cash reserve facility, regular advance or a combination.