Great If:
you're considering Aged Care for you or a loved one
you want to live the lifestyle of your choice in retirement
you don't want to worry about the unexpected
Key Features:
Take advantage of a variety of payment options including lump sum, regular payments (monthly, quarterly or annually over five or ten years) or cash reserve and make no regular loan repayments towards the amount.
No Negative Equity Guarantee means that you will never have to repay more than the net sale proceeds of the property, provided all loan conditions have been met. This applies even if the loan, plus the accrued charges, exceeds this amount.^
Work with people you trust. Your legal work will always be performed by the solicitor of your choice who will work with us to ensure that everything is fully explained and discussed with you.
Choose the Aged Care option to fund a move into an aged care facility so that you don't have to sell your home to afford the aged care costs. It can be taken for a term of up to five years.
Security may be taken over an Investment Property or Holiday Home. The maximum amount available on this property type will be reduced by 10%
Enquire about Reverse Mortgages It’s just that simple!
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I want to
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Maximise my Super
Your Super could make the difference between living the lifestyle of your choice after retirement, and having your choices made for you.
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Plan for my retirement
The retirement lifestyle of your dreams is within reach – all it takes is a little foresight and some great advice.
Reverse Mortgage Calculator
Want to know if a Reverse Mortgage is the right option for you?
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Apply for a Reverse Mortgage
At Greater Bank, we don’t think you should have to move heaven and earth just to get a loan. That’s why we’ve made the application process as simple as possible.
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1
Drop into your nearest branch
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2
Give us a call
1300 651 400
How can a Reverse Mortgage help?
Today, many seniors are finding that a Reverse Mortgage is giving them new freedom to unlock their accumulated wealth. What's more, unlike some other loans you don't have to sell your home and your title remains in your name.
Unlock the equity in your home and use your funds for whatever you choose. For example:
- Renovations and maintenance to your home
- Health care or medical treatment
- Debt consolidation eg. paying off credit card bills etc.
- Purchasing a new car
- Planning an overseas holiday
- Helping children and grandchildren with financial support
- Leisure and lifestyle activities
If you're over 60, own your own home and are looking to borrow money, a Reverse Mortgage could be perfect for you.
At Greater Bank, we've partnered with Heartland Seniors Finance to distribute Reverse Mortgages to our customers.
How does a Reverse Mortgage work?
A reverse mortgage allows you to borrow money using the equity in your home as security. You can opt to take the loan as a lump sum, a regular income stream, a cash reserve or a combination of these options that suits you.
While no income is required to qualify, credit providers are required by law to lend you money responsibly so not everyone will be able to obtain this type of loan.
Interest is charged like any other loan, except you don't have to make repayments while you live in your home - the interest compounds over time and is added to your loan balance.You remain the owner of your house and can stay in it for as long as you want.
You must repay the loan in full (including interest and fees) when you sell your home or pass away, move into long term care (in most cases), or move out of the property for another reason.
Heartland's Reverse Mortgages are turning heads...
Reverse Mortgage Calculator
Want to know if a Reverse Mortgage is the right option for you?
Why not take advantage of this handy calculator to view your debt and equity over time?
Want to know if a Reverse Mortgage is the right option for you?
Why not take advantage of this handy calculator to view your debt and equity over time?
For more information
If you're after more information about a Reverse Mortgage from Heartland Seniors Finance, click the link below to download a product key fact sheet.
Enquire About A Reverse Mortgage
If you're after more information about a Reverse Mortgage from Heartland Seniors Finance, make an enquiry below.
