A clearer view on retirement

17 August 2018

A common misconception with a Heartland Reverse Mortgage is that customers borrow large amounts of funds up-front. However, at Heartland we have found that the amounts borrowed are often relatively modest, but the impact can be transformational. Many also take advantage of our flexible draw down options, taking out an initial advance in conjunction with a cash reserve facility (like a ‘line of credit’) and/or a regular advance – drawing funds only when needed. Anne* was one of these customers.

Since retiring, Anne had more time to enjoy the many luxuries of retirement – more time for socializing, being able to take some small trips, extra time with the family, and even the occasional sleep in!

As her time became more readily available, she started to notice a few well overdue home improvements to address, and thought there was no better time than the present to tackle them. New carpet, fresh lick of paint on the walls, and new windows, just to name a few, were on the list. However, but after obtaining a few quotes, Anne realised that these jobs weren’t as affordable as she originally anticipated.

One day whilst browsing on Facebook, Anne stumbled across the Heartland Seniors Finance page and began her reverse mortgage journey. After reading some articles on the Heartland wall, she then navigated through to the website and got in contact with one of our friendly reverse mortgage specialists, Chris, to see how Heartland could help her live a better retirement.

Anne outlined to Chris that she wasn’t after a huge amount of money, rather a small amount to make some of those much needed improvements around her home. Chris outlined to her the funds which could be offered, and explained the protections and promises Heartland has in place to ensure she made an informed decision.

Anne took advantage of Heartland’s flexible product options and set aside a cash reserve facility, providing for future funding – just in case of a rainy day. One of the additional benefits of having the facility was that no interest is charged on this amount until it has been drawn down.

“Thanks for your help!”

With no hiccups in the application process, Anne was able to secure the funds she was after in no time at all and start installing some new windows, get a new coat of paint throughout the house, and some brand new carpet.

“Thanks to Chris for the wonderful chats. I am so looking forward to my new carpet. I will always think of you all with a great deal of gratitude.”



*Real customer, but name changed for privacy.