How can I use the funds from a reverse mortgage?

You can use the funds from a reverse mortgage for various purposes, including paying off debt, home improvements, day-to-day expenses, travel, buying a car, funding aged care, and home care.

Can I make voluntary repayments on my reverse mortgage?

Yes, you can make voluntary repayments or pay off your loan when it suits you. There is no requirement to make regular loan repayments until the end of the loan.

What are the drawdown options for a reverse mortgage?

Heartland Bank offers flexible drawdown options, including an initial lump sum, regular payments, or applying for a future drawdown through a cash reserve.

Is there a no negative equity guarantee?

Yes, you and your estate are protected by Heartland Bank's no negative equity guarantee.

Why take out a Reverse mortgage

Q: Will I still own my home with a reverse mortgage?

Yes, you will remain the owner of your home and benefit from any potential increase in property value.

Why choose a reverse mortgage?

You’ve worked hard for your home. Now it can work hard for you. Join over 27,500 Australians who are already using a Heartland Bank Reverse Mortgage to live more comfortably in retirement.

Enjoy the comforts of staying in your own home for as long as you choose.

You remain the owner of your home, and benefit from any potential increase in its value.

Use the funds for almost any reason that matters to you in retirement.

There is no requirement to make repayments during the life of the loan.

You’re free to make voluntary repayments or pay off your loan whenever it suits you.

Our No Negative Equity Guarantee means you'll never owe more than the value of your home.*

Ways our customers use a reverse mortgage

Here are just some of the ways our customers use a Heartland Bank Reverse Mortgage to stay in the home they love and live the retirement they’ve planned for.

Start the conversation

If you’d like to find out more about a Heartland Bank Reverse Mortgage, request a guide or call us on 1300 889 338. Or download our Reverse Mortgage App.

1The minimum age for a Heartland Bank Standard Reverse Mortgage is 55. Where the borrower will be residing in Aged Care, the minimum age is 60.

*Comparison rate is based on a loan of $150,000 over a term of 5 years. Please note the comparison rate only applies to the examples given. Different loan amounts and terms will result in different comparison rates. Costs such as redraw fees and costs savings, such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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Reverse Mortgages

Why choose a reverse mortgage?

Ways our customers use a reverse mortgage

Start the conversation