Equity Release Products –
the options available
A plan from Hodge Lifetime allows your client to access some of the equity (value) within their home.
Releasing a cash lump sum enables your client to improve their lifestyle as they 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 your clients. 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 client's home and is repayable from the proceeds of its sale. A cash sum is provided, which can be spent as they wish (subject to repayment of any existing mortgage). For as long as your clients live and so long as they continue to occupy their home, they 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 clients property is transferred to Hodge Lifetime, in return for a tax-free cash sum, which they may spend as they choose. Repayment is made from the future value of their home at the time of their death or if they decide to sell up permanently. The future value of their estate will be reduced by our agreed share of the sale proceeds of their property.
Click here for further details on the Shared Growth Option
Next: Lifetime Mortgage Option
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Find out more about
Hodge Lifetime by calling our
Broker Support Unit on:
0800 731 4076