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 60’s.

The YOUTUBE videos provide great content to both educate yourselves, and for you to share with clients – 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 – 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:

1. Create a page in your website for Reverse Mortgages

2. Use Facebook or other mediums to talk about finance for over 60’s

3. Use the explanatory videos to assist your clients with information in an easy to see format.

General parameters:

1. Maximum Facility limit is determined by age of youngest minus 40 – so a 70 year old has a maximum loan to value ratio (LVR) of 30%

2. Property location is a key component in assessing the value on which the Loan to Value Ratio is applied.

3. Floating Interest Rate currently 9.89%

4. Application fee $920

Reverse Mortgage facility:

• Three loan structures

• They can be used on their own or in combination.

1. Initial Drawdown – $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 – 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 – Relationship Managers

Referral Form – Editable_

RM Partner Presentation

RMNZ Brochure 1123

RMNZ Customer Fact Sheet 10_24

RMNZ Insights Guide