What is a Reverse Mortgage?

A Heartland Reverse Mortgage allows you to borrow against the equity in your home – releasing cash for you to do the things you want in your retirement without having to sell your home.

Our customers use Reverse Mortgages to:

  • Fund home repairs or improvements.
  • Travel to visit family members.
  • Pay for medical procedures.
  • Upgrade to more reliable cars.
  • Help their children to buy homes of their own.
  • Paying bills or meeting other needs to make life easier and more comfortable.

To find out more about a Reverse Mortgage, we encourage you to browse our informative website and call a Heartland Reverse Mortgage specialist on 0800 488 740 to find out if this flexible financial tool is right for you.

The Heartland Promises

Promise 1

Lifetime Occupancy Guarantee

Your home will remain the place you live in for as long as you choose

Promise 2

No Negative Equity Guarantee

The loan repayment will never exceed the net sale proceeds of the property

Promise 3

Loan Repayment Guarantee

There is no requirement to make any repayment until the end of the loan

Features and Benefits

Ownership of your home

You retain ownership of your home at all times, and continue to enjoy any increase in property value.


Independent legal advice

For your protection it is a requirement that you receive independent legal advice from your own freely chosen solicitor.


Equity Protection Option

Under the Equity Protection Option you may choose to protect a percentage of the eventual net sale proceeds of your home (up to 50%). When your loan is repaid, you or your estate are guaranteed to receive your chosen Equity Protection percentage. Fees apply.


30-day cooling-off period

We are committed to ensuring you are 100% comfortable and happy with your decision to take out a Heartland Reverse Mortgage. That’s why we offer a 30-day cooling-off period, which means if you change your mind within 30 days of taking out your loan, you can simply pay it off and we will refund your application fee in full.

Independent Financial Advice

We recommend that you talk to your financial adviser and your family when considering a Heartland Reverse Mortgage.

For more useful information you can visit The Commission for Financial Capability’s website at sorted.org.nz which also provides independent financial information, with a range of calculators and resources including a budgeting planner and a retirement planner.

You can also visit The New Zealand Government website which provides information about reverse mortgages.

Code of Standards

The Office for Senior Citizens (part of the Ministry of Social Development) has developed a voluntary Code of Standards for providers of reverse mortgages. These standards are designed to protect consumers, and Heartland is committed to upholding the key principles of the Code.

You can obtain a full copy of the Code at www.msd.govt.nz or call us on 0800 488 740.

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