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Reverse mortgages have been in the headlines recently, with several banks announcing that they would be moving away from offering this type of loan to borrowers. But Heartland Seniors Finance has outlined that there is still a role for this product in the market.
In this episode of In Focus, Heartland Seniors Finance CEO Andrew Ford joins host Annie Kane to discuss the role of reverse mortgages in the finance market. Given the recent ASIC review into the space finding a number of benefits but suggesting that more could be done to educate seniors of the risks, Andrew shares how the lender is working with brokers to help customers make informed decisions.
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In this episode, find out:
- The steps that a borrower needs to take to secure this class of finance
- When a reverse mortgage is not the right decision
- Andrew’s advice for brokers considering entering into the reverse mortgage market
And plenty more!
Articles of interest:
Banks quitting reverse mortgages ‘spells opportunity’ for brokers
Major bank CEO defends brokers
93% believe brokers have client interests at heart
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