Heartland recently spoke to The Senior about using a reverse mortgage to help ease cost of living pressures for older Australians. 

Our recent customer survey showed that 91% of respondents believe the cost of living is putting a strain on their budget, and 87% agree that the Aged Pension does not provide enough for them to live the retirement they desire. 

Compared to 15 years ago, the proportion of Heartland’s customers who are using a reverse mortgage to access extra income in retirement has almost quadrupled, currently sitting at 30%.

 “We now have record numbers of customers who are using a reverse mortgage to provide an extra income stream, to pay bills, for other living expenses and ongoing needs,” said Sharon Yardley, Head of Operations at Heartland. 

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.

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Information is accurate as of 21 February 2023 and may change from time to time.