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£70,000£1m+
You must be 55+ to qualify for Equity Release.
  • Independent UK Equity Release comparison service
  • Release up to £500,000 TAX FREE - Equity release is, in a nutshell, a way to unlock the value of your property and turn it into cash which lets you access – or 'release' – the equity (cash) tied up in your home, if you're 55+.
  • Get your free quotes and compare options from leading Equity Release companies.

Hodge Lifetime Equity Release Review

Equity release allows eligible people aged 55 years and above to convert all or some of the value attached to their homes into equity (cash). For a free equity release comparison, fill in the form above, and you will receive a free quote comparing the leading UK Equity Release providers.

Hodge Lifetime is a UK Equity Release provider under Julian Hodge Bank Limited, offering Annuities, Equity Releases, 55+ Mortgages and Retirement Mortgages to those who meet their specifications.

To compare Equity Release providers click here and complete the short form.

Eligibility for Hodge Equity Release

To qualify for the Hodge Lifetime equity release, you and your home should meet the following qualifications:

Age

The minimum age of the youngest applicant should be 55 years, while the maximum age of the youngest applicant should not be more than 88 years.

Property Type

Eligible houses are those that are either freehold or leasehold. For maisonettes and flats, only leaseholds qualify. For a leasehold, the property should have a minimum of 90 years to the expiry of the lease term. A flat must be a private block and not have more than seven stories to qualify.

The property should also have a value of £100,000 – £1 million for those outside London, and £100,000 – £2 million for those within London. Properties of over £1 million outside London can be accepted on referral.

The Method of Construction

The property should be of standard traditional construction with the roof made of concrete, stone tiles or slate, and the walls made of either brick, block, or stone.

Property History

The house should not have had recent structural issues or events such as flooding and subsidence.

Hodge Equity Release Products

The Equity release product offered by Hodge Lifetime is in the form of a lifetime mortgage. With a lifetime mortgage, you can secure a loan tied to the value of your property while still retaining its ownership. The loan and the interest accumulated are repaid in full after you – or your partner(s) if it is a joint mortgage – die or move long-term care.

The two types of lifetime mortgage available from Hodge Equity release are:

  • Lumpsum Lifetime Mortgage
  • Flexible Lifetime Mortgage

For the Lumpsum Lifetime Mortgage, you will receive a lump sum with no option of making cash withdrawals. The interest rates may differ for people with different circumstances, but the range for lump sum lifetime mortgage is between 3.90% – 4.30%.

For the Flexible Lifetime option, you will get a lump sum and set up a reserve from which you can make further withdrawals in the future. The interest rates for this product range from 4.05 – 4.45%, depending on the specific option selected.

Both products allow a minimum borrowing amount of £20,000 and a maximum amount of £600,000.

Other Features of Hodge Lifetime Equity Release

Early Repayment Option

The early repayment option allows you to pay your loan early, with a maximum charge of 25% on the amount repaid.

Flexible Repayment Option

This option allows you to repay up to 10% of the total amount borrowed each year without incurring any early repayment charges. This is available for both the lump sum and flexible lifetime options.

Downsizing Protection

Under the downsizing protection feature, you will not incur any early repayment charges if you decide to sell your property to repay your loan and move to a different (smaller) property.

Provided above is an overview of the products under Hodge Lifetime. For any inquiries about any of the features presented above, you can call and will be directed to an FCA authorized broker who will help you out.

By filling the quotation form above, you will get an assessment and a comparison of the market providers and rates to help you determine the best option for you. Owing to the sensitive nature of Equity Release products, be sure to consult with an approved and qualified financial adviser to help you determine the right plan for you.

To compare Equity Release providers click here and complete the short form.