Heartland has established itself as the largest provider of reverse mortgages in Australia and New Zealand since launching in 2014. Despite being smaller than the U.S. market, both countries have seen approximately 20% growth in reverse mortgages. The regulatory environments differ, with Australia offering structured consumer protections while New Zealand relies on voluntary guidelines. Heartland mandates that clients obtain independent legal advice to ensure they understand reverse mortgage intricacies, reflecting aspects of U.S. regulations. These factors underscore the evolving landscape of reverse mortgaging in the region as they learn from U.S. market developments.
The reverse mortgage market in Australia and New Zealand, while smaller than in the U.S., shows significant growth, with Heartland as the leading provider.
Heartland requires clients to seek independent legal advice, ensuring they understand reverse mortgage details, similar to the U.S. requirement for counseling.
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