Reverse Mortgage Aged Care – Heartland Seniors Finance

Finding financial security when you need it most.


Moving in to aged care can be an expensive and stressful process.  There are often a number of things to consider, including how to pay for the care. You will be asked whether you wish to pay upfront via a Refundable Accommodation Deposit (RAD), a Daily Accommodation Payment (DAP) or a combination of both.

You do not have to sell the family home to pay for nursing home costs

Taking out a reverse mortgage as an Aged Care loan to assist in financing these costs can provide flexibility and breathing space for seniors and their families during a stressful period. 

Using Aged Care finance can enable you to consider what you wish to do with the family home, including moving back in to the property, renovating before sale, retaining it within the family or renting it out.

Heartland’s Aged Care Loan 

The Heartland Seniors Finance Aged Care option is a simple, yet flexible, way to access an Aged Care loan. It enables you to finance nursing home costs, using your home as security, with no required repayments for up to five years. 

Using Heartland’s Aged Care finance option provides a number of benefits: 

  • can be drawn upfront, to cover the RAD payment;
  • via a Regular Advance to cover a DAP and other ongoing expenses;
  • funds can also be set aside in a Cash Reserve Facility for future needs; or
  • you can use a combination of all three.


The loan is repaid at the end of the five year term or, if earlier, when the last borrower passes away.  The RAD refund is guaranteed by the Australian Government and, when refunded, can be used towards repaying the loan. The property can also be sold, and loan repaid, at any time without any penalties.

If you (or a family member) are in, or moving into, long-term care and require financial assistance, Heartland Seniors Finance may be able to help you.

Our Aged Care Guide provides more detail regarding Heartland's reverse mortgage for aged care finance offerings, and an index of acronyms to help you navigate the terminology can be found here.

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