The Hodge Lifetime Retirement Mortgage Plan
At a time when retirement mortgages are being reigned in and lending criteria tightened, Hodge Lifetime buck the trend with a Retirement Mortgage plan starting at age 55. Based on income, Hodge Lifetime offer an interest only lifetime mortgage assessed on affordability.
With a maximum loan-to-value of 50% at age 55, it means that those looking to service the debt & maintain a level balance can do so & potentially raise a higher tax-free lump sum than a roll-up equity release plan. The minimum loan available is £20,000, with a maximum release of upto £500,000.
The Hodge Retirement Mortgage attracts a 5 year fixed rate of just 4.75%, which results in a £50,000 mortgage costing £197.91pm. Additionally, early repayment charges only exist for 5 years on a reducing scale of 5% down to 1%.
Hodge include a flexible repayment option which allows 10% repayment of capital in the first 5 years with NO penalty. Therefore, you can even overpay without penalty and reduce the balance at the same time
*TIP: Ideal for switching expiring mainstream interest only mortgages
Simply complete the contact form below & a qualified equity
release adviser will contact you shortly.
Hodge Lifetime Retirement Mortgage Plan
Talk to us today to request further information on – 0800 011 9841
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