Heartland extends reverse mortgage capability

2 July 2019
| By Mike |
image
image
expand image

Specialist reverse mortgage firm, Heartland Group has extended its capability via the completion of a $250 million committed reverse mortgage funding facility.

The company announced to the Australian Securities Exchange (ASX) today that it now has access to committed Australian reverse mortgage loan funding of $850 million in aggregate.

It said the funding facility reflected an important stage in the evolution of Heartland’s Australian business and, following the establishment of an Australian dollar medium-term note program earlier this year, would provide additional diversification funding and increase capacity to meet growing demand for reverse mortgage in Australia.

The company said the combination of favourable demographics, limited active originators and plans to raise product awareness through increased marketing activity, represented the opportunity for significant growth and a number of other funding options continued to be developed including additional warehouse facilities and long-term funding sourced offshore.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 1 week ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 1 week ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 1 week ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

3 weeks 3 days ago

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

3 weeks 1 day ago

Having divested its advice business in August, AMP is undergoing restructuring in at least four other departments amid a cost simplification program....

2 weeks 5 days ago