Heartland Supports Government Recognition of Reverse Mortgage Benefits
09 May 2018
Last night’s Federal Budget included an expansion of the Pension Loans Scheme. The Department of Social Services stated that this “will allow age pensioners to enjoy a higher standard of living in retirement”.
This is a sentiment Heartland Seniors Finance wholeheartedly agrees with. As Australia’s leading reverse mortgage provider, Heartland is committed to assisting senior Australians live a better retirement, with independence and dignity.
While expanding the Pension Loans Scheme will assist more retirees, it may not be an option for many.
Heartland is proud to provide an award winning product which offers the flexibility of multiple drawdown options and the ability to repay in full, or in part, at any time.
Heartland’s reverse mortgage also has key protections for seniors, including a lifetime occupancy guarantee and a no negative equity guarantee, which means that the borrower will never owe more than the net sale proceeds of the property, subject to adhering to the terms of the loan.
Reverse mortgages are very heavily regulated. Independent legal advice is mandatory and Heartland is committed to ensuring that our customers make an informed decision.
Treasurer, Honourable Scott Morrison, stated that the Government wants “to preserve and increase the choices of older Australians”. This is great to hear as for too long the focus of retirement funding in Australia has been on the age pension, superannuation and voluntary savings. The expansion of the Pension Loans Scheme highlights the increasing use of home equity as a valuable tool in assisting seniors to live a better retirement.
At Heartland we are proud to have assisted over 15,000 Australians live a better retirement. If you would like to know more about our product, you can call us on 1300 889 338 or visit www.seniorsfinance.com.au.