Flexible Mortgage Calculator

With the Hodge Equity Release Flexible Mortgage Option, a lifetime mortgage is secured on your home and is repayable from the proceeds of the sale of your home.

As well as an initial lump sum, it provides a pre-approved Cash Reserve facility, from which you may make further withdrawals.

The initial lump sum must be at least 15% of the total facility (minimum £10,000). Subject to eligibility, the maximum initial amount available is £250,000. Future withdrawals of at least £2,000 may be made from the Cash Reserve at any time up to the 15th anniversary of the plan, until the whole facility has been drawn.

The Hodge Equity Release Lifetime Mortgage Option provides a lump sum. Loan interest at a fixed rate compounded monthly is ‘rolled up’ and added to the loan.

With either plan there is nothing to pay until death or selling up permanently as the outstanding lifetime mortgage balance (plus any interest and charges that have accrued) is repaid from the proceeds of the property sale.