Heartland recently spoke to The Senior about using a reverse mortgage for home improvements to help make the family home more age friendly. Currently, more than 50 percent of Heartland customers take out a reverse mortgage for home improvements.

Recent research by RMIT University, supported by Heartland has shown that almost 90% of older Australians wish to age in place. However, 36% live in a home that may be unsuitable for ageing in place without upgrades or renovations, and approximately 29% say they will not be able to afford the changes required to make their home age friendly.

A reverse mortgage could be a solution, allowing older Australians to remain living in their home while releasing its equity to fund home improvements, with no loan repayments required until the end of the loan. 

Read the full article here.

Want to know more? If you would like to find out more about reverse mortgages, request your free Reverse Mortgage Guide.

Ready to apply? You can now Apply Online, or request an Application Pack that provides everything you need to apply.

If you require any assistance, feel free to get in touch, we are here to help you.

Information is accurate as of 18 July 2023 and may change from time to time.