Reverse Mortgages

Specifically designed for seniors wanting more financial independence and flexibility during retirement.


Enquire now

Reverse Mortgages

Specifically designed for seniors wanting more financial independence and flexibility during retirement.


Enquire now

What is a reverse mortgage?

A reverse mortgage is a type of home loan designed specifically for people 60 years and over.

It allows you to access some of the equity in your home to help fund a more comfortable retirement. There are no regular repayments and you continue to own and live in your home and community for as long as you choose. You can use a reverse mortgage to consolidate debt, complete home improvements, pay for medical expenses, upgrade your vehicle, travel, take the stress out of everyday bills, or, gift the money to your children to help get them on the property ladder.

How does it work?

Instead of making regular repayments, interest is calculated on the outstanding balance and added monthly to your loan.

The total loan amount, including accumulated interest, is repayable when you move permanently from your home. This could occur when you sell your property or move into long-term care. Voluntary repayments can be made at any time, which reduces the balance and interest charged.

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.

How am I protected?

A Heartland reverse mortgage comes with the following protections: 

  • Lifetime occupancy promise - You continue to own and live in your home for as long as you choose.
  • No negative equity guarantee - The amount required to repay the loan will never exceed the net sale proceeds of the property.
  • Loan repayment promise - You do not need to make any loan repayments until the end of the loan. Although you can choose to make voluntary repayments at any time with no penalty.

Taking out a loan against your home is a big decision. If you’re seriously considering a Reverse Mortgage, you should discuss this with your legal adviser and consider talking it through with trusted family members. 

How do I find out more or apply?

We’re collaborating with Heartland^ so we can help our members to live a comfortable retirement.

Heartland is the leading provider of Reverse Mortgages in New Zealand and Australia. They have developed a market-leading product and process, and support this with a specialist team of experts.

If you’d like more information, simply call us on 0800 229 943, complete an online enquiry form or pop into your local branch. We’re here to help


^Reverse Mortgages are administered by Heartland Bank Limited.  Heartland’s responsible lending criteria, fees and charges apply. Please refer to the relevant documents for interest rates, fees and legal obligations here. Unity receives a referral fee from Heartland for each successful reverse mortgage application.