Pay off debt

No one wants to spend their retirement years worrying about debt and keeping up with repayments, but sadly many do. 

For many older Australians, most of their wealth is tied up in their family home. For some, they may still owe money on their home.

More than half of our customers use a reverse mortgage to consolidate debit to free up cash flow, removing stress and providing peace of mind. 

Our reverse mortgage could be the solution you need

  • Our variable rate is often lower than personal loans or credit cards.
  • Once the initial drawdown has been used to consolidate debts, additional funds could be accessed for other reasons, such as home improvements, a new car, or medical expenses.
  • As well as an initial advance, on eligible loans a regular advance can be arranged. You could also apply for future draw down through a cash reserve.

Benefits of using a reverse mortgage to pay off debt

Flexible payment options
Take your loan as a lump sum or regular advance, and you can apply for a cash reserve in the future.  

No need to move out
You remain the owner of your home and benefit from any potential increase in your home’s value over time.  

Peace of mind
Have peace of mind knowing that you remain the owner of your home with our lifetime occupancy guarantee. 


A case study of Peter

Property in Coolangatta valued at $510,000. Age 92...

Heartland could lend the requested funds of $180,700, with the condition that he used his new Heartland loan to refinance his mortgage on settlement.

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What else you can do with a reverse mortgage