Heartland Increases Loan to Value Limits for Aged Care Loans

31 July 2017

Heartland Seniors Finance is pleased to announce that it has increased the loan to value limits (LVR) for its Aged Care Loan by 5%, effective immediately.  This will allow customers requiring aged care to access more of their home’s equity, depending on their age.

Aged care costs have increased significantly in recent years and unlocking some of the equity in the family home to assist with these costs can provide flexibility and breathing space for seniors and their families during a stressful period.

The LVR determines how much Heartland is able to lend to customers, based on the value of the property used as security for the loan and the age of the youngest borrower. The table below shows the new maximum amounts that apply depending on the age of the youngest borrower.

Age of youngest borrower Maximum % of home’s value available
60 20%
65 25%
70 30%
75 35%
80 40%
85 45%
90 50%

Heartland’s Aged Care Loan is similar to a reverse mortgage, except it has been designed specifically for those residing in aged care.  As a result, unlike a standard reverse mortgage which has no term, Heartland’s Aged Care Loan has a five year term.  It is typically used to fund aged care costs such as a Refundable Accommodation Deposit (RAD) or Daily Accommodation Payments (DAP), but can also fund other costs such as home renovations.

Heartland is Australia’s leading reverse mortgage provider, and has an award winning product supported by excellent customer service.   Heartland is committed to helping senior Australians live a better retirement and can assist with funds for just about any personal purpose.

Here at Heartland, we are proud to have helped thousands of seniors enjoy the retirement they deserve with independence and dignity with our reverse mortgage. If you would like to discuss how our Aged Care Loan works, or how our products can help relieve financial pressure in retirement, please feel free to contact our friendly team at [email protected] or 1300 889 338. We are here to help you.



Andrew Ford


Information provided is accurate as at 31 July 2017 and may change from time to time