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Heartland Introduces a 30 Day Cooling Off Period

01 October 2018

Heartland Bank News

At Heartland, we are proud to have helped over 17,000 Australian seniors live a more comfortable retirement with our reverse mortgage. As Australia’s leading reverse mortgage provider, we are focused on having a market leading product, which is flexible, offers considerable protection, and is supported with exceptional service from our team of reverse mortgage experts.

Heartland is also constantly looking for ways to improve.  In our most recent survey, when we asked about the most important benefits of a reverse mortgage, peace of mind was the top response. To provide further peace of mind, and add to Heartland’s customer protections, including the ability to repay the loan, in part or in full, at any time without penalty, we are pleased to announce the introduction of a 30 day cooling off period.

How does the 30 day cooling off period work?

Heartland’s 30 day cooling off period enables customers to cancel their reverse mortgage within 30 days, and repay their loan at no cost. Heartland will refund the Settlement Fee, interest and the standard cost of a valuation.  The only costs you may incur are any government charges and your independent legal advice on the loan agreement.

Our new cooling off period is just a further demonstration of how Heartland takes its duty of care for our customers seriously.

If you would like to discuss our new cooling off period or how a reverse mortgage could be of help to you, please don’t hesitate to contact our friendly team on 1300 889 338 or [email protected], or request an information pack. We are here to help you.

 

Information provided is accurate as at 1 October 2018 and may change from time to time.