Equity Release Products
A plan from Hodge Equity Release 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 you wish. You may choose to improve your home, make essential repairs, install facilities which enhance your standard of living or take a holiday. The choice is yours. Hodge Equity Release is able to provide a cash lump sum through the following equity release plans provided by Julian Hodge Bank.
Hodge Equity Release Lifetime Mortgage Option
With this plan a legal charge is secured on your home and a cash sum is provided, which you may spend 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 need not 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
Hodge Equity Release Flexible Mortgage Option
This 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 £100,000 (amounts in excess of this may be considered on referral). Future withdrawals of at least £2,000 may be made from the Cash Reserve at any time up to the fifteenth anniversary of the plan, until the whole facility has been drawn.
Click here for further details on the Flexible Mortgage Option
Hodge Equity Release Shared Growth Option
With this home reversion plan, part of your property is transferred, 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.