Equity Release Products
A plan from Hodge Lifetime allows you to access some of the equity (value) within your home.
Releasing a cash lump sum enables you to improve your lifestyle as you are free to use the money for any purpose. Home improvements, making essential repairs, installing facilities which enhance their standard of living or maybe taking a holiday of a lifetime. The choice is yours. Hodge Lifetime is able to provide a cash lump sum through the following equity release plans provided by Julian Hodge Bank.
Lifetime Mortgage Option
With this plan a legal charge is secured on your home and is repayable from the proceeds of its sale. A cash sum is provided, which can be spent as you wish (subject to repayment of any existing mortgage). For as long as you live and so long as you continue to occupy your home, you don't need to make any repayments on the lifetime mortgage loan. Loan interest is charged at a fixed rate, calculated daily and added to the lifetime mortgage loan each month.
Click here for further details on the Lifetime Mortgage Option
Shared Growth Option
This is a home reversion plan, where part of your property is transferred to Hodge Lifetime, in return for a tax-free cash sum, which you may spend as you choose. Repayment is made from the future value of your home at the time of your death or if you decide to sell up permanently. The future value of your estate will be reduced by our agreed share of the sale proceeds of your property.
Click here for further details on the Shared Growth Option
Next: Lifetime Mortgage Option
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