Heartland

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What different scores mean

9+

Excellent

These home loans offer low costs, coupled with a host of features, giving the best overall value.

7+

Great

These home loans may have slightly higher interest rates or fewer features but overall, a competitive offering.

5+

Standard

Usually the home loans would offer above average rates. They may still include some competitive features.

0+

Basic

Higher costs and/or fewer features.

On this page you can find information about Heartland Reverse Mortgages. Skip ahead to the full table of products or read more about the lender.

Compare Heartland Reverse Mortgages home loans

Compare Heartland products below and hit "load more" to see a fuller selection of loans. You can also find more information on each individual product by clicking "more info".

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Name	Finder Score	Interest Rate p.a.	Comparison Rate p.a.	Fees	Monthly Payment
Heartland Standard Reverse Mortgage Principal & InterestInterest only50% min. depositOwner-occupier Heartland Standard Reverse Mortgage Principal & InterestInterest only50% min. depositOwner-occupier Go to site Details Fees Pros & cons Product Name Heartland Standard Reverse Mortgage Interest Rate Type variable rate Repayment Type Principal & Interest Interest Only Interest Rate p.a. 9.75% Comp. Rate p.a. 9.78% Minimum Loan Amount $5,000 Maximum Loan Amount N/A Maximum Loan Term Maximum LVR 50% Loan Redraw Facility Yes Offset Account No Split Loan Facility No Fixed Interest Option No Loan Portable Yes Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $350 Ongoing Fees $0 p.a. Settlement Fee $595 Discharge Fee $495 Pros Lump sum option No application or ongoing fees Cons Settlement fee of $495 Discharge fee of $395	Finder score	Interest Rate 9.75%	Comparison Rate 9.78%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $1,290	Go to site Compare
Heartland Secondary Property Reverse Mortgage Principal & InterestInterest only66.25% min. depositInvestment Heartland Secondary Property Reverse Mortgage Principal & InterestInterest only66.25% min. depositInvestment Details Fees Pros & cons Product Name Heartland Secondary Property Reverse Mortgage Interest Rate Type variable rate Repayment Type Principal & Interest Interest Only Interest Rate p.a. 9.75% Comp. Rate p.a. 9.78% Minimum Loan Amount $5,000 Maximum Loan Amount N/A Maximum Loan Term Maximum LVR 33.75% Loan Redraw Facility Yes Offset Account No Split Loan Facility No Fixed Interest Option No Loan Portable Yes Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $350 Ongoing Fees $0 p.a. Settlement Fee $595 Discharge Fee $495 Pros $0 application fee Lump sum payment option available Cons There is a $495 settlement fee There is a $395 discharge fee There is a $295 switching fee	Finder score	Interest Rate 9.75%	Comparison Rate 9.78%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $1,290	Contact Broker Compare
Heartland Aged Care Option Principal & InterestInterest only Heartland Aged Care Option Principal & InterestInterest only Details Fees Pros & cons Product Name Heartland Aged Care Option Interest Rate Type variable rate Repayment Type Principal & Interest Interest Only Interest Rate p.a. 9.75% Comp. Rate p.a. 9.92% Minimum Loan Amount $5,000 Maximum Loan Amount N/A Maximum Loan Term Maximum LVR N/A Loan Redraw Facility Yes Offset Account No Split Loan Facility No Fixed Interest Option No Loan Portable Yes Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $350 Ongoing Fees $0 p.a. Settlement Fee $595 Discharge Fee $495 Pros Fund your aged care costs No application fee Cons There is a $495 settlement fee Repayment options can be complicated	Finder score 4 Basic	Interest Rate 9.75%	Comparison Rate 9.92%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $1,290	Contact Broker Compare

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Heartland Reverse Mortgages lender profile

• Heartland Reverse Mortgages is one of Australia's leading reverse mortgage lenders. A reverse mortgage enables seniors to access the equity in their property to help them live comfortably in retirement without having to sell their home.
• Heartland Reverse Mortgages was founded in 2004 and has served over 21,000 Australian seniors. The company is owned by New Zealand's Heartland Group Holdings Limited.
• The company's products have borrower protection and a no negative equity guarantee, which mean that your reverse mortgage borrowing costs won't exceed the sale value of your house (ensuring that you or your family will be able to cover your debts).

How do I apply for a Heartland Reverse Mortgages mortgage?

If you'd like to apply for a home loan from Heartland Reverse Mortgages, please speak to a mortgage broker or contact the lender directly.

Eligibility

Each Heartland Reverse Mortgages product has specific eligibility criteria but some will apply to all products. For example:

• Age. You must be over 18 years of age.
• Residency. You should be a resident of Australia.
• Employment. You should have a regular source of income.

Documents required

When you apply for a mortgage with Heartland Reverse Mortgages you are required to provide certain information so make sure you have all your documents ready before you apply. The documents you will be expected to provide are:

• Identification documents. You will need identification such as a driver's license, passport or birth certificate.
• Proof of income documents. Recent payslips can establish your income.
• Asset and liability documents. You need to provide documents showing your current assets (savings accounts, investments) and liabilities (your outstanding debt).

Detailed guide to home loan applications and paperwork

Looking for more mortgage options?

• Online lenders. Compare more mortgages from online lenders.
• Big Four banks. Check out home loan rates from Australia's Big Four banks.
• Investors. Compare loans for property investors.
• Mortgage brokers. Find out how to get free, expert guidance from a mortgage broker.

Compare other products from Heartland Bank

• Heartland Bank term deposits

What is Finder Score?

The Finder Score crunches 7,000 home loans across 120+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.

To provide a Score, we compare like-for-like loans. So if you're comparing the best home loans for cashback, you can see how each home loan stacks up against other home loans with the same borrower type, rate type and repayment type. We also take into consideration the amount of cashback offered when calculating the Score so you can tell if it's really worth it.

Read the full Finder Score breakdown

Written by

Richard Whitten

Editor

Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification. See full bio

Richard's expertise

Richard has written 553 Finder guides across topics including:

• Home loans
• Property
• Personal finance
• Money-saving tips