TMM - News

Debt consolidation helps drive Heartland reverse mortgage business

Tuesday 29th of August 2023

The average reverse mortgage balance was $128,938 at June 30, up from $116,728 a year earlier, and the average loan-to-valuation ratio (LVR) rose to 21.3% compared with 18.3% a year ago.

But the average LVR when a reverse mortgage is taken out has dropped slightly to 9.8% from 10%.

“We've seen an increase in using reverse mortgages to help consolidate and manage debt,&...

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