Loan Market connects brokers with Boomers
Loan Market Group has extended its industry-leading lender panel by diversifying into the growing retirement sector offering even more choice for customers.
Heartland Seniors Finance has joined Loan Market’s lender panel - rated best in the industry by a poll of brokers* in both 2018 and 2019 - allowing its network to service clients over their entire lifecycle and taking the total number of lenders to 60.
Heartland Seniors Finance is a specialist in reverse mortgage solutions: unlocking over-60s’ equity in assets including long-held family homes. Heartland Seniors Finance uniquely caters to the challenges of those in the aging population who need financial assistance for:
- personal debt consolidation;
- home renovations;
- additional income;
- medical expenses;
- new car;
- and more.
The percentage of older residents is growing, led by aging Baby Boomers - people born between 1946 and 1964. In 2017, the Australian Bureau of Statistics reported 15% of the nation’s population was aged over 65. However, the cohort is expected to account for between 21-23% of residents over the next 50 years.
Loan Market Chief Commercial Officer Stephen Scahill said the inclusion of Heartland Seniors Finance directly reflected the needs of the growing Australian retirement demographic.
“Our brokers adopt a client-for-life approach to customer service,” said Mr Scahill.
“As clients get older, their focus shifts toward their health, travel, and even modifying their home to better suit their mobility. They require specialised solutions and this partnership will open up more options for these important clients.
“Our lender panel starts the journey with customers for their first home, car purchase, debt consolidation, through to investments and business loans, and now to their needs in retirement. It creates true client-for-life relationships for our brokers.”
Heartland Seniors Finance Head of Distribution, Jeff Murray, said they were excited about the opportunity to work alongside Loan Market to create solutions for their clients.
“Brokers are an integral part of our business, and as a specialist lender it is important to partner with quality aggregators to broaden our reach. We are thrilled to be welcomed onto the Loan Market lender panel to further assist their customers achieve their financial goals later in life, and live a more comfortable retirement.”
*Momentum Intelligence survey of industry brokers, 2018