Reverse Mortgages
Your drawdown options
One of the things that makes a Heartland Bank Equity Access Loan (Reverse Mortgage) flexible is the way you can access your funds. You are not locked into a single lump sum. Instead, you choose the option that suits your situation:
Initial Lump sum
Receive your funds upfront in a single payment. This is a straightforward option if you have a specific purpose in mind, like a home renovation, paying down an existing debt, or a significant purchase.
Regular advance
Receive a set amount on a regular basis, monthly, quarterly, or annually. A practical way to supplement your retirement income and manage day-to-day expenses with confidence, subject to meeting our lending criteria.
Cash Reserve
Apply for a cash reserve if you require future access to funds released from your home equity.
Future Access Fund
Apply now to fast track the approval process for additional funds in the future, in line with our terms and conditions.
What can you use a reverse mortgage for?
Everyone's retirement looks a little different, and that is exactly the point.
Our customers use their reverse mortgage for all kinds of reasons.
The most common uses include:
Home improvements and renovations, updating your home so it works better for you now and in the years ahead
Paying existing debt such as a mortgage, so you are not carrying repayments into retirement
Supplementing your income, giving yourself a little more financial breathing room each month
Vehicle purchase, replacing or upgrading the car you rely on
Travel and experiences, taking the trip you have been putting off
Health and aged care costs, funding modifications that help you stay at home safely, or meeting the costs of care
Your home. Your security.
Our Heartland Bank promise is that you stay in your home and remain the owner. That will never change. A Heartland Bank Equity Access Loan (Reverse Mortgage) comes with two important protections built in.
No Negative Equity Guarantee
You will never owe more than the value of your home when the loan is repaid, regardless of how the loan balance grows over time. This protection is a legislative requirement under Australian law.
Lifetime occupancy rights
You have the right to remain in your home for as long as you choose and cannot be asked to leave because of the loan.
How do I get a Heartland Bank Equity Access Loan (Reverse Mortgage)?
Getting started is straightforward. Here is how the process works:
1
Find out how much you could access
Use our free online calculator to get an estimate based on your age, property value, and location. It’s a useful starting point, with no obligation. Fees for setting up your loan will come out of the amount you apply for, so we recommend factoring these in to make sure you receive the amount you need.
2
Talk to us
Speak with one of our specialist reverse mortgage consultants. We take the time to understand your situation, answer your questions, and explain your options clearly, without pressure.
3
Receive your funds
Once your application is approved and all legal requirements are complete, your funds are released according to your chosen drawdown option. Loan approval is subject to meeting our lending criteria and terms and conditions.
I am a new Equity Access Loan (Reverse Mortgage) customer
For new Heartland Bank customers who joined on or after22/07/2026.
I am an existing Reverse Mortgage customer
For Heartland Bank customers who joined us before22/07/2026.
Get in touch
We’ve helped over 27,500 Australians with their retirement. See how we could help you with yours. Request a free guide or speak with us on 1300 889 338.