Heartland Reverse Mortgages
Contact
Ingrid Desmond | Relationship Manager
Ph 0800 488 740 D 09 9279187 M+64 22 476 3998
E ingrid.desmond@heartland.co.nz
W www.heartland.co.nz PPO Box 9919, Newmarket, Auckland 1149
Reverse Mortgage Referrals for clients over 60 years of age.
We look forward to assisting your clients should they be looking for a Reverse Mortgage solution to assist them during their retirement years.
The Referral Fee for successful leads is $1,200. In addition, we provide the marketing resources that will assist your discussion with clients and provide relevant information for their decisions.
As you know, a Reverse Mortgage is an increasingly sought after option for homeowners over the age of 60 who want to free up cashflow in retirement. If you are active in a social media environment or have your own website, then you may find the following resources useful by incorporating them into your information package for the over 60âs.
The YOUTUBE videos provide great content to both educate yourselves, and for you to share with clients â all links are here:
What is a reverse mortgage: https://www.youtube.com/watch?v=KHudlrfBghE&t=60s
How does interest work on a reverse mortgage: https://www.youtube.com/watch?v=RwM9WMMJ0Mo&t=7s
Loan purposes: https://www.youtube.com/watch?v=y-Pu58WnFY8
Myth busting: https://www.youtube.com/watch?v=Bs0_XuFR8BE
The referral process to Heartland is simple and we take it from the referral all the way to completion â talking to the client, providing further information and assisting the application and completion phases. You only need to send the Referral Form (PDF attached).
Suggestions:
Create a page in your website for Reverse Mortgages
Use Facebook or other mediums to talk about finance for over 60âs
Use the explanatory videos to assist your clients with information in an easy to see format.
General parameters:
Maximum Facility limit is determined by age of youngest minus 40 â so a 70 year old has a maximum loan to value ratio (LVR) of 30%
Property location is a key component in assessing the value on which the Loan to Value Ratio is applied.
Floating Interest Rate currently 9.89%
Application fee $920
Reverse Mortgage facility:
Three loan structures
They can be used on their own or in combination.
1. Initial Drawdown â $5k minimum
Valuation if applicable from $600 (or as quoted)
Application fee and Valuation fee are deducted from the first drawdown
2. Regular Monthly Advance â Minimum $300 per month
60 month to 120 month plan
Setup fee $120
3. Cash Reserve Facility
No cost for the facility until amounts drawn
Draw down admin fee of $70 each time
Current Interest rate then applies
Resources
Our team â Relationship Managers
AIA Home Loans
AIA: Go Home Loans
Applications are to be emailed to goapplications@asb.co.nz
For refix or other matters email gohomeloans@asb.co.nz
Please direct all correspondence to the Lending Managers/BDMs in the table below:
Nick Russell Email nick.russell@aia.com Phone 0274757225
Important Documents
Nature and Purpose Questionnaire SHL â Individuals SHL EDITABLE SEC â Copy
The Nature and Purpose is required to be completed for all Go Home Loans settlements for new to-bank clients and there must be one for each client.
GO NZHL Adviser Declaration Form V2
The Adviser Declaration is required to be completed at settlement and if you are doing a fixed rate rollover that is not a straight fix (e.g. restructure, lump sum payment etc).
Adviser Home Loan Application Guide.pdf
ASB_Home_Lending_Policy_Guide_for_Advisers _ February2023.pdf
GO Home Loan Product Guide.pdf
Latest Updates
Go Home Loans â Workflow Management System Update Loan applications GO home loans.pdf
Keyword: Sovereign