Heartland Standard Reverse Mortgage

Unlock the equity in your home to finance your retirement.

If you're over the age of 60, a reverse mortgage from Heartland Reverse Mortgages could help you fund your retirement by using the equity in your family home.

No reviews yet. Write a review

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

Review by


Richard Whitten is an editor at Finder, and has been covering home loans and the property market in Australia for the last 4 years. He has written for Yahoo Finance, Money Magazine and Homely, as well as multiple banks and lenders. Richard has a Certificate IV in Finance and Mortgage Broking, a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communication. He enjoys helping people understand the ins and outs of mortgages so they can make smarter property decisions. Richard trained as a high school teacher but found it easier to manage personal finances than a classroom full of kids. Before joining Finder, he edited textbooks and taught English in South Korea.

Expert review

A reverse mortgage works by offering you funds based on the equity you've built up in your home. This product offers you either a line of credit or a set regular income.

Unlike traditional mortgage products, you won't have to make regular repayments. Instead, interest is calculated and added to the original loan amount, then the total amount is due when the last customer permanently moves from their home. This could be due to passing away, moving into aged care or selling the home and downsizing.

About this loan

What are the features and benefits of the Heartland Standard Reverse Mortgage?

  • Loan amount and loan to value ratio. The Heartland Standard Reverse Mortgage carries a minimum borrowing amount of $5,000 There is no maximum borrowing amount. The maximum loan to value ratio is 45% of the equity in your home.
  • Eligibility. You must be at least 60 years of age to qualify for a reverse mortgage through Heartland Senior Finance.
  • Repayment flexibility. While a reverse mortgage does not require you to make regular repayments, the Heartland Standard Reverse Mortgage allows unlimited optional repayments.
  • Payment type. You can choose to receive your payments as either a line of credit to access as you need it or a regular fixed income.

What fees and charges come with this loan?

  • Valuation fee: $350. This fee is waived for properties valued under $2 million.
  • Settlement fee: $495. This one-time fee covers the administrative costs associated with funding your home loan.
  • Discharge fee: $395. This fee is charged when the loan account is closed after you've repaid your reverse mortgage.

How to apply

If you've done the research, compared reverse mortgages and think the Heartland Standard Reverse Mortgage is the right product for you, click the green button above. You'll be directed to the Heartland Reverse Mortgages website, where you'll be guided through your application.

Home Loan Offers

Important Information*

Ask an expert

To ask a question simply log in via your email or create an account.

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site