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Existing customers

This information is provided to each customer upon settlement of their loan, in hard copy as the New Customer Guide.

If you have any other questions, or require further information regarding your loan, please do not hesitate to contact our Customer Care team on 0800 488 740 or [email protected].

Heartland Reverse Mortgage’s variable interest rate is 10.50% per annum from May 17, 2024.

If you are a Legacy client, and took out a loan between 2005 - 2014 please click here for interest rates that may apply to you.

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In April and October each year (regardless of your loan’s settlement date). The statement details the transactions on your loan over the previous period, including interest, any applicable fees and charges, and whether you have any additional funds available.
Completion of Heartland’s annual questionnaire is required under your loan agreement. Its purpose is to confirm that your rates and insurance are up to date, and that the property is being maintained. You will receive the questionnaire on the anniversary of your loan commencement, every year. It must be completed, signed and returned within a month.
To draw funds out of your facility, you simply need to complete a cash reserve facility request form. Please contact our friendly team to obtain this form.

A drawdown fee applies – please refer to Heartland's current fee schedule on our website.
Interest is calculated on the daily balance, and added to the loan monthly. At the end of the term of your loan, when you move permanently from your home, the total interest charged, together with the principle will be payable.
No. There is no requirement to make any loan repayment until the end of the loan. Heartland does offer the flexibility to repay the loan partially, or in full, at any time without paying penalty charges.
You can make repayments at any time.

Please be sure to include your loan number and your last name in the transaction description. This is essential, as it enables us to correctly identify your loan repayment.

You can find your loan number on your settlement letter, as well as any subsequent statements. We can also confirm your loan number over the phone for you on 0800 488 740.

Our account details:

Account name: Sentinel Custodians Ltd

Account number: 12 3244 0033187 01
Your loan is repayable within 12 months of when you move permanently from your home.
We understand that this can be a stressful time. While you will need to notify Heartland and provide us with a death certificate, provided you are a nominated borrower, you will continue to have lifetime occupancy of your home – and can live there for as long as you choose.
If you move into another house, you will repay your current reverse mortgage and you can re-apply on your new home. Fees will apply and your new home must meet our current lending and property criteria, including valuation, size and location. Please contact us for assistance.
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Reverse Mortgage insights guide with the title: Enjoy a better lifestyle in retirement