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Heartland Reverse Mortgages

The current economic climate and what it means for retirees

  • Retirement savings are taking a back seat for many people with the focus shifting to making ends meet on a day-to-day basis and assisting family post COVID.
  • The low interest rate environment is challenging for retirees with many having to reconsider retirement options.
  • Uncertainty around the housing market may deter retirees from selling their home in the short-to-medium term with lockdown showing how valuable our homes were in more than just a financial sense.
  • NZ residential real estate value is $1.2 trillion outweighing NZ share market or KiwiSaver funds. With 77% of people aged 65 or older owning their own home, a reverse mortgage could provide access to much needed funds for Kiwis in retirement.

Disclaimer: This information is accurate as of July 2020

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What is a Heartland reverse mortgage?

A reverse mortgage is like a normal home loan that has been designed for the needs of people over 60. It allows you to release equity from your home to live a more comfortable retirement. Importantly, with a reverse mortgage you continue to own and live in your home and community for as long as you choose.

A Heartland reverse mortgage can be used for a number of purposes including

  • Paying off debt
  • Make home improvements
  • Supporting family
  • Covering day to day expenses or unexpected costs
  • Visiting family and friends
  • Buying a car
  • Paying for medical expenses
  • Going on a holiday
  • Home purchase/moving closer to family

A Heartland reverse mortgage can offer you:

  • Flexible finances. A reverse mortgage can be used for almost anything, whether you would like to make home improvements, assist with medical costs or just to take the stress out of everyday expenses.
  • Maintaining home ownership. You remain the owner of your property, continuing to enjoy the benefits of your community, social network, and family memories.
  • No regular payments required. Although you’re welcome to make regular payments, this is not a requirement. Interest is calculated daily on the balance outstanding and added to your loan monthly.
  • Designed to provide peace of mind. Heartland offer a lifetime occupancy guarantee, so you can continue to live in your home for as long as you want.

To find out more about a Heartland reverse mortgage read on watch the videos below or visit https://www.heartland.co.nz/reverse-mortgage. If you decide to proceed with one Heartland will insist that you're fully informed. We’re here to help.

Retirement, Video, Reverse Mortgage

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