Broker Reverse Mortgage Questions Answered – Part 1

Written By Craig McInnes

04 July 2017

We recently held a Reverse Mortgage diversification webinar with Mortgage Professional Australia.  Following the presentation, there was a question and answer section which followed where we answered the questions of over 150 brokers who attended. Some of the common ones were:

How do you become accredited with Heartland?

Heartland has a straight forward process to ensure you have an understanding of the product and the process to benefit both you and your customers.  This includes an Accreditation Module, which highlights product features, benefits and criteria, along with a test to ensure understanding. We do not require you to complete accreditation or training with an industry body to write our loans.

What is replacing SEQUAL accreditation?

As mentioned, Heartland does not require introducers to hold an external accreditation. We understand, however, that some industry bodies and registered training organisations are considering offering a course. 

Where can I access your Application Form and other materials?

Heartland has developed a broker portal which provides you with all the materials you need to write a reverse mortgage. Included within is the accreditation paperwork, application form, fee schedules and additional helpful resources.

You can sign up at https://www.seniorsfinance.com.au/broker.

What are the differences between your reverse mortgage and others?

Our award-winning Reverse Mortgage loan product is designed to provide a combination of useful features, flexibility, and value which enables customers to setup a reverse mortgage which suits them. Features include:

  • Flexible drawdowns (lump sum, regular advances and/or a cash reserve)
  • The ability to lend against an investment property or holiday home
  • An option specifically designed for Aged Care
  • Minimum age of 60
  • Maximum loan dependent on LVR limits only
  • Competitive interest rate and fees (including no ongoing fees)

 

Why choose Heartland?

Heartland Seniors Finance is Australia’s leading Reverse Mortgage provider. Established in 2004, Heartland Seniors Finance has assisted thousands of people aged 60 and over release equity from their home, helping them to live a better retirement with independence and dignity.

Heartland is proud to be Canstar’s 2017 Reverse Mortgage Provider of the Year, and to have won the Money Magazine Best Reverse Mortgage for seven consecutive years.

A market leading product and personal service makes Heartland Seniors Finance the Reverse Mortgage lender of choice for many Australian seniors.

Brokers are Heartland’s primary distribution channel and we offer personalised service to assist all levels of brokers, from those who will settle one reverse mortgage every six months to those settling ten a month.

Any other questions?

Our specialist, dedicated support team are available to assist with any other questions you may have, to discuss scenarios, or provide any assistance you may require in developing this part of your portfolio. Please feel free to contact us at [email protected] or 1300 662 865. We are here to help you.

 

 

Information provided is accurate as at 04 July 2017 and may change from time to time

 

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