Heartland Awarded Best Reverse Mortgage by Money Magazine
29 November 2018
We are proud to announce that the Heartland Seniors Finance Reverse Mortgage has been awarded Best Reverse Mortgage in Money magazine’s 2019 Best of the Best awards.
Each year, Money magazine compares the features and cost of thousands of Australian financial products to produce the ultimate guide for Australian consumers. For the fourth year in a row (and the seventh time since 2010) Heartland’s Reverse Mortgage has been judged to be the best reverse mortgage in Australia.
Heartland has undertaken extensive international research to develop a market leading product. This award is a testament to Heartland’s Reverse Mortgage being flexible, yet simple, with considerable consumer protection, broad criteria and competitive pricing. This flexibility and protection includes:
- Multiple drawdown options, including an initial lump sum, line of credit and regular advances;
- The ability to repay in part or in full at any time without penalty;
- Lifetime occupancy and no negative equity guarantees; and
- Secondary property option, enabling equity to be released from an investment property or holiday home.
With around 65% of senior Australians relying on a government pension or allowances as their main source of retirement income*, and the age pension not enough to cover what is considered to be a comfortable retirement^, many Australian seniors are struggling to enjoy the retirement they deserve.
Heartland offers an alternative to downsizing, expensive credit card debt or ‘tightening the belt’ to relieve financial stress, as regular repayments are not required. Interest is calculated on the balance outstanding, and added to the loan monthly. The loan, including interest, is payable when the property is sold or the last borrower permanently leaves the property.
This award also recognises Heartland’s continuous product development, including (in 2018):
- A reduction to our minimum initial advance and minimum monthly regular advance payments (now $5,000 and $300 respectively), ensuring customer don’t borrow more than they need; and
- The introduction of 30 day cooling off period, enabling customer to repay their loan in full within 30 days at no cost.
At the forefront of our business is the customer, and while winning these awards is a fantastic endorsement, helping our customers is the most satisfying and rewarding part of what we do. Our dedicated and knowledgeable reverse mortgage experts have helped over 15,000 customers live a more comfortable retirement. If you would like to find out more, or to see whether we could help you, please feel free to contact us on 1300 889 338 or [email protected].
Information provided is accurate as at 29 November 2018 and may change from time to time.