Funds to make Mark’s home fit for fur family
26 October 2018
Mark* is a great example of how a Heartland Reverse Mortgage is flexible enough to cater to specific needs and even a ‘fur family’. Recently retired, Mark was looking forward to enjoying the next chapter of his life. Unfortunately, the chapter began with the loss of his little dog Coco.
Mark explains: “We adopted her when she was 10 years old; she was 18 when she died and it broke my heart. My other dog, Oscar, was devastated, they were really good mates.”
Mark was also discovering, at this time, that the odd jobs around the house were actually going to require a lot more than a routine patch up or fix. Being his life’s investment, he didn’t want to see his home fall into disrepair.
Mark, like many other Australian seniors, didn’t have the funds readily available to simply go and pay professionals to renovate his home, nor was able to do it all himself. Mark’s main source of income was the aged pension, and getting a personal loan large enough to pay for the renovations was not an option as he had no means to repay it.
Luckily, Mark did his research and contacted Heartland to see if we could help him free up some of the equity in his home so that he could keep living there with Oscar without having to sell.
Mark was able to receive the funds he needed for renovations as an upfront lump sum. After preparing his home for a long and comfortable retirement, Mark found himself with some left over funds. With this money, Mark bought a new friend for Oscar.
“This extra money means that I can now afford to get another dog and, more importantly, look after her properly. It will also help Oscar and I get over losing Coco.”
Here at Heartland, stories like Mark’s bring us great satisfaction and pride, knowing that we can offer a product to Australian seniors that can be flexible, and make a real difference to their comfort in retirement.
*Real customer, but name changed for privacy.