What is a reverse mortgage?

A reverse mortgage allows people over 60 to access some of the equity in their home, helping them fund a more comfortable retirement. Importantly, with a reverse mortgage you continue to own and live in your home and community for as long as you choose.

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How does it work?

With a reverse mortgage, you don't need to make regular repayments. Interest is calculated on the outstanding balance and added monthly to your loan. Voluntary repayments can be made at any time, which reduces the balance and interest charged.

The total loan amount, including accumulated interest, is repayable when you move permanently from your home. This could occur when you sell your property, move into long-term care or pass away.

To be eligible, you need to be over the age of 60, own your own home outright, or have a standard mortgage that can be paid off by the reverse mortgage. The amount you can access depends on your age and the value of your home.


Secondary Property Loan

You can also take a reverse mortgage against a secondary property such as an investment property or holiday home. A Secondary Property Loan provides you the same benefits of a reverse mortgage on your primary home.

Streamline Application

If you’re looking to release less than $100,000 equity from your home, our Reverse Mortgage - Streamline Application may be right for you. It has all the protections of our regular Reverse Mortgage with a few added benefits including:

  • no registered valuation required
  • lower upfront costs
  • faster settlements.

Specific lending criteria apply for Secondary Property Loans and Reverse Mortgage - Streamline Application.

How am I protected?

We take our duty of care seriously and have a range of safeguards in place to ensure you make an informed decision and are well protected*.

*Subject to complying with the terms and conditions of the Heartland Reverse Mortgage, you will not owe more than the net sale proceeds of your home and you can keep your home for as long as you choose.

Your reverse mortgage journey

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What do our customers think?

What do our customers think?

More than 17,000 Kiwis over 60 have used the value of their home to access cash for a well-earned and comfortable lifestyle. See how our Reverse Mortgage has helped them.

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Enjoy a better lifestyle in retirement