A Reverse Mortgage to pay off debt

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Using a Reverse Mortgage to pay off debt

You may not be aware, but many Australian seniors share a common problem: meeting the monthly repayments of high-interest personal debt. A 2014 report released by Reverse Mortgage industry body SEQUAL1, revealed that debt consolidation is one of the most popular uses for home equity release finance with 33 per cent of seniors using a Reverse Mortgage to pay off debt such as accumulated credit card balances and bank loans.

No one wants to spend their retirement years worrying about high interest debt, but it is a sad fact that many do. These days aged pensioners and self-funded retirees are finding it more difficult to sustain a dignified life on limited income. Many are turning to credit cards to make ends meet.

Heartland Seniors Finance has the solution you need.

Heartland Seniors Finance offers a Reverse Mortgage loan product that will allow you to pay off debt in a lump sum - without the need for ongoing monthly repayments, and with an interest rate that is often much lower than credit cards or personal loans. This could save you thousands of dollars in interest and, best of all, with no more worries about finding the money for your next repayment, give you peace of mind and allow you to enjoy life again!

1 SEQUAL Reverse Mortgage Survey

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Eager to learn more?

If you want to explore how a Reverse Mortgage can be used to pay off debt, complete the above form and instantly receive your copy via email.

You can also call Heartland Seniors Finance on 1300 889 338 for a chat.

What are the benefits of obtaining a reverse mortgage to pay off debt?

Minimal income requirements to qualify

Government aged pension or superannuation is fine.

Flexible cash flow

Tell us how much you need to pay your debt today and you can set up a cash reserve facility that you can unlock for your future needs when required.

No need to move out

You retain ownership of your home, so you can live in comfort for the rest of your life.

No regular repayments required

However you can make voluntary repayments if you wish. The debt is ultimately repaid from the future sale of your property, when you decide to sell or after you have passed away.

For the seventh consecutive year, we are proud to be awarded Money Magazine’s Best Reverse Mortgage product.

100% of our customers are more than satisfied with our product and service, while 95% of our customers have either already, or are likely to, refer a friend to Heartland Seniors Finance
Heartland Customer Survey, July 2015.

About Heartland Seniors Finance

Established in 2004, Heartland Seniors Finance (previously known as Australian Seniors Finance) has helped thousands of people over 60 release home equity to fund a better lifestyle in retirement.

As a non-bank lender, Heartland Seniors Finance understands the needs of older borrowers and is proud to offer an important funding alternative for Australian pensioners and self-funded retirees. With flexible credit policies and a suite of innovative loan products, Heartland Seniors Finance a Reverse Mortgage lender of choice for many Australian seniors.