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Hodge Lifetime Equity Release for UK homeowners 2.86% Fixed

hodge lifetime Equity Release mortgages in retirement

  • Release equity from your property with Hodge Lifetime Equity Release
  • Not necessary to make monthly payments
  • Use the equity released for anything you like
  • Continue to live in your own house

How much can I borrow?

You can release 70% of your home’s valuation. As an example, if your home is worth £260,000 you can get £182,000.

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Recently completed mortgage, equity release and lifetime mortgage cases

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Mrs V from Hastings

I had spent my life running up credit cards and loans then getting interest-only mortgages to pay off the debt. I got to retirement age and still owed the bank £160,000.

The term was about to expire, and I could not afford the payments on my pension anyway.

I got £180,000 equity release and now I am more comfortable with no monthly repayments and I spent £20,000 on a new bathroom and kitchen. I now know I can stay in my home.

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Mrs Daly from Glasgow

My daughter lives in the states and does not have health insurance. My £30,000 lifetime mortgage paid the medical bills for her son to be born and a years rent in advance for a new flat for the baby.

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Mr G from Kent

I got an interest-only lifetime mortgage and gave my sons £100,000 each so they could put a deposit down on a home. My money made it possible for them to get a very good mortgage deal, especially one son who is not well paid.

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Mrs Shaw from Lancaster

I had an interest-only mortgage with Birmingham Midshires. The mortgage had come to the end of its term and they wanted the £127000 back I still owed them. My lifetime mortgage saved me from losing my home and the rate was close to what I paid before.
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Sophie G from Aberdeen

The financial advisor I’ve had for 25 years said I could save inheritance tax by getting £350,000 of equity release. The money was lent at a very low-interest rate close to 2% and competitive with normal mortgages you would get by proving income. I have saved a lot of tax.

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Sandra from Manchester

I got equity release to give money to my daughter to buy a house.

Without the money I borrowed, her buying a home would have been impossible.

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Mr Williamson from Chiswick

My son is a chef in a care home. He is not well paid. No way his bank would lend him the money to buy a flat. My equity release enabled him to put a substantial deposit down so his mortgage was very small.

My equity release interest rate was close to his interest rate offered by his bank.

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Mrs E from London

I was advised to get equity release from my East London home to minimise inheritance tax.

My son and daughter used the money to pay down their mortgages. The interest rate on the equity release was so low it was close to their mortgage rate.

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Mrs G from Leeds

My daughter is a single mother, and I got a £120,000 lifetime mortgage to buy her a flat outright as she has had a succession of poorly maintained rental flats not suitable for her child.

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Ms G from Dover

I divorced my husband who was a violent alcoholic.

I really feared losing my home as I sometimes look after my daughter’s children. Equity release enabled me to pay off my ex and stay secure in my home.

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Mrs L from Nottingham

I had to pay a valuation fee and a solicitor’s fee, but no lender or broker fees for my lifetime mortgage. As I was divorcing my husband of 30 years the money went to him for his share of the house.

I am happy now as I am secure, and I do not need to move from my home.

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Ms T from Hammersmith

My husband recently died leaving me with a mortgage I could not afford to pay. The lifetime mortgage allowed me to pay off the mortgage and have enough money left over for a new bathroom, kitchen, and roof repair.

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The mortgage lender will want to know if the property is a Semi detached freehold house or a Leasehold flat and if the resident is an Owner Occupier.

Pitfalls of Hodge Lifetime Equity Release Plans

Home reversion schemes can reduce the value of your estate. Lump-sum lifetime mortgages may impact the ability to claim entitlements. You may need to pay a legal fee and some products expose you to changes in interest rates.

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Areas of the UK where Hodge Lifetime Equity Release schemes are common

  • Mildenhall
  • Hartlepool
  • Barton-upon-Humber
  • Dursley
  • Otley
  • Gorleston-on-Sea
  • Steyning
  • Barrow-in-Furness
  • Bruton
  • Wath-upon-Dearne
  • Bawtry
  • Bruton
  • Stotfold
  • New Romney

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Hodge Lifetime Equity Release

Retired small business owners that may be interested in Hodge Lifetime Equity Release Schemes

  • Extraction of peat Crosby
  • Photographic activities not elsewhere classified Blackrod
  • Manufacture of other articles of paper and paperboard n e c Dukinfield
  • Motion picture, video and television programme post-production activities Tow Law

It’s usual to discover individuals looking for lump sum lifetime mortgages, lump sum life time mortgages or home reversion plans, however, More to life like Legal & General are keen to see proof of your circumstances in the form of investment statements.

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  • More to life Tailored Choice Plan mortgage for life
  • Stonehaven Equity Release Plan online mortgage advisor part repayment part interest only mortgages
  • Nationwide Equity Release Schemes
  • More to Life Capital Choice Plus Plan
  • Royal Bank of Scotland Equity Release
  • Age Partnership Equity Release
  • Hodge Lifetime Equity Release
  • Just Retirement Equity Release
  • Liverpool Victoria LV Equity Release Plans
  • Stonehaven Equity Release Plan
  • Age Partnership Interest Only Lifetime Mortgage
  • Aviva Equity Release
  • More to life Tailored Choice Plan
  • Hodge Lifetime Flexible Voluntary Repayment Plan
  • L&G Legal & General Flexible Max Scheme
  • Stonehaven Interest Only Lifetime Mortgage
  • Nationwide Equity Release Plans
  • Royal Bank of Scotland Equity Release
  • Just Retirement Equity Release Schemes
  • Liverpool Victoria LV Equity Release Schemes
  • More to Life Capital Choice Plan
  • Pure Retirement Equity Release Schemes
  • Hodge Lifetime Equity Release
  • Royal Bank of Scotland Equity Release Schemes
  • Saga home reversion plan

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Equity Release Lenders similar to Hodge Lifetime Equity Release

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Equity Release percentages of your current property value

  • 55% monthly payment lifetime mortgage Legal & General
  • 45% loan to value interest-only lifetime mortgages Prudential
  • 50% loan to value (LTV) home reversion plans Norton Finance
  • 25% loan to value lumpsum lifetime mortgages Paragon Residential
  • 40% loan to value home reversion plans 1st Stop Home Loans
  • 30% loan to value lump sum lifetime mortgages The Mortgage Works
  • 50% Hodge Lifetime Equity Release on leasehold property

How much is it common to release from a home with Hodge Lifetime Equity Release

The older you are and the more serious your illnesses you are the more cash you can release with hodge lifetime equity release.

Hodge Lifetime Product name: 55+ Mortgage and the 55+ Retirement Interest-Only Mortgage (which we’ll refer to as ‘the RIO’ here). Capital repayment or interest-only? Interest-only.

Minimum/Maximum property value: £120,000 Minimum for the 55+ Mortgage; £100,000 for the RIO; £1m Maximum for both. Minimum/Maximum loan sum: £20,000/£1m.

Maximum LTV: 60% for both, but you must also hold at least £100,000 equity for the 55+ Mortgage. Minimum/Maximum age at application: 55/85.

For the 55+ mortgage, the oldest you can be when your term ends is 95. Minimum income: none, though you’ll need to be able to prove you can afford the interest payments.

Mortgage term: the 55+ Mortgage has a term of between 10 and 40 years depending on your age; the RIO lasts for your lifetime.

Overpayments: up to ten per cent per year without early repayment charges (ERCs). How can I repay the loan: with the 55+ Mortgage you can repay by downsizing or selling other property or investments.

With the RIO, repayment is made on death or when you go into long-term care. How to apply: through a mortgage broker.

Challenging to mortgage property titles include properties with legal agreements such as Overage, Clawback, Option, Pre-emption, or any onerous Restrictive Covenant, ground rent where the lease or any deed varying the lease provides for a ground rent exceeding, or where the escalating provisions would result in the ground rent exceeding £250 per annum (or £1000 per annum where the property is in Greater London), properties where there are boundary disputes or where planning applications have not been applied for correctly, mundic homes and Airey, Boot, Cornish Unit, Dorran, Dyke, Gregory, Hamish Cross, Myton, Newland, Orlit and Parkinson Frame.