Heartland Bank Australia has today announced a further decrease to its reverse mortgage interest rates, marking the second such reduction this calendar year. 

The decision, effective as of Tuesday 7 April will see new reverse mortgage customers gain access to a market-leading interest rate of 8.79 % p.a. (8.82% p.a.). 

Following a previous reduction in February, this latest move underscores Heartland Bank’s commitment to providing competitive financial solutions for Australians over 55, even as the broader economic landscape remains complex. 

“This second reduction is a deliberate step to ensure our products remain the most effective tool for retirees looking to unlock the value in their homes,” said Heartland Bank Australia Chief Commercial Officer Medina Cicak. 

“By reducing our rates for the second time this year, we are making it more affordable for older Australians to access the capital they need to renovate, manage healthcare costs, or improve their quality of life.” 

As the market leader with over 40% market share, Heartland Bank Australia continues to set the standard for specialist banking.  

“Our goal is to ensure that home equity is a dynamic part of a retirement plan, not a static asset,” Cicak continued.  

“By consistently reviewing and lowering our rates where possible, we are reaffirming Heartland’s position as the partner of choice for those who wish to age in place with financial independence and peace of mind.”