HEARTLAND Seniors Finance has been named Reverse Mortgage Provider of the Year by Canstar for the third consecutive year.
"Reverse mortgages have been around for over a decade, providing a solution for 60-pluses who have equity in their home and can exchange a portion of this for cash," said Canstar finance expert Steve Mickenbecker.
"They offer a valuable alternative to selling the family home."
Heartland Seniors Finance chief executive Andrew Ford said the company's reverse mortgage is designed to be simple yet flexible, helping seniors to live a more comfortable retirement while continuing to live in, and own, their home.
He said common uses for a reverse mortgage include funding home renovations, consolidating debt, travel, or simply taking the stress out of everyday bills.
Canstar is Australia's biggest financial comparison site and conducts independent financial services research based on product features, pricing and flexibility.