Speaking to MPA about why demand has surged for reverse mortgages
18 November 2021
In a recent article, Heartland spoke to Mortgage Professional Australia (MPA), about why demand has continued for reverse mortgages over the past 12 months.
While the COVID-19 pandemic saw increased demand for refinances and upsizing, the demand for reverse mortgages was already strong before COVID hit.
As Australia’s ageing population continues to grow, there has been an increase in the number of homeowners entering retirement in debt, which has created a steadily and growing demand for reverse mortgages. This along with retirement living standards being above the full aged pension rate, has created a retirement income gap.
Mortgage brokers are ideally placed to help these customers, and they can provide a full service offering by being able to support their client base as they get older, or who have parents who need to access money to help them in retirement, by becoming reverse mortgage accredited.
You can read the full article here.
At Heartland we provide dedicated, personalised assistance to brokers, to help support their clients. To discuss a scenario, our application process, or accreditation, please contact our Broker Support Team on 1300 662 865 or [email protected].
Information provided is accurate as of 18 November 2021 and may change from time to time.