Partnership will allow eligible homeowners to use equity in their properties to fund in-home care
Heartland Bank has partnered with Access Community Health to launch a new reverse mortgage offering designed to “enable New Zealand’s ageing population to remain living independently and comfortably in their own homes and communities for longer.”
The new offering will enable eligible homeowners to use a portion of the equity in their properties to fund in-home care and support through Access Community Health.
Read more: Reverse mortgage a better option for older Kiwis – bank
Alison van Wyk, chief executive officer of Access Community Health, said that the offering will “help enable those who require additional dedicated care and support to take control of their own health and make the right choices around the type of in-home care they want to receive, and be able to pay for it.”
“We are all too aware that there is a desire among New Zealand’s ageing population to live at home safely, independently, and comfortably, regardless of age, income or ability level, for as long as reasonably possible,” she said. “However, there is no one size fits all approach for aged care, and this collaboration simply provides another option for people to live life on their own terms. We’ve found that a portion of Access Community Health clients already choose to pay for additional private in-home care, and we’re proud to make this journey easier for homeowners through our collaboration with Heartland Bank.”
Andrew Ford, head of retail at Heartland, said reverse mortgages can “enable some people to gain financial freedom and independence in old age.”
“Our collaboration with Access Community Health has been designed to offer people over the age of 60 greater options and choice,” he said. “We’re pleased to work with Access Community Health to enable healthy ageing in the home, with access to top quality in-home care and support.”
