Is Hodge Equity Release still an option in 2025?

As the 2021 winner of the MI Awards for Later-Life Lender of the Year, it is clear that it could have been regarded as one of the top 10 equity release companies.²

Is it right for you?

At SovereignBoss, our team of dedicated writers and researchers have done extensive research to ensure we provide accurate information on the various equity release companies in the UK.

Here is what we have discovered about Hodge equity release.

NOTE: SovereignBoss is an impartial and unconnected third-party information provider via this website, and the details replicated in this commentary represent the opinions of SovereignBoss only and may not reflect the views or opinions of Hodge. This article must not be interpreted as advice, nor is it a solicitation to conduct transactions in any financial product provided by Hodge.

Who Is Hodge?

Hodge is a leading financial provider in the post-retirement mortgage industry.

It has received the esteemed ServiceMark recognition from the Institute of Customer Service. 

This national honour is presented to entities that demonstrate a dedication to superior customer service and a continuous pledge to their clientele.³

The bank has headquarters in Cardiff, Wales, since it's inception.

History of Hodge

The history of Hodge indicates it was the UK’s oldest equity release provider, having created the first equity release products in 1965.

Established in 1987, the bank had its origins in the Hodge Life Assurance Company, which was founded in 1965. Later, this company transitioned into a subsidiary and was renamed Hodge Lifetime.

It is named after Sir Julian Hodge, first called Julian Hodge Bank.⁴

The company was a founding member of the trade body SHIP (Safe Home Income Plans), known today as the ERC (Equity Release Council).

Current Standing of Hodge

Hodge stopped offering equity release loans when it sold it's portfolio to Reinsurance Group of America in 2021.⁵

They have also started transferring the servicing of lifetime mortgages to other providers so that they may focus on their other specialties.⁶

What Types of Equity Release or Lifetime Mortgage Products Did Hodge Offer?

Hodge offered lifetime mortgages to its customers.

It's four products were:

• Flexible Lifetime Mortgage
• Lump Sum Lifetime Mortgage
• Lifetime Mortgage
• Indexed Lifetime Mortgage

Why Did Hodge Withdraw from the Market?

The Hodge Group decided to exit the equity release sector to concentrate on expanding its niche mortgage lending operations, with later-life lending continuing as a central component.

Implications for Existing Hodge Equity Release Customers

Even though they have stepped back from the market, it is important to note that all prior equity release contracts with them remain untouched. 

Their clients can still proceed with cash withdrawals and request additional financing as they always have. 

Great news:

They have also committed to fulfilling all ongoing transactions. 

If you have pressing concerns about a fresh policy with them, getting in touch directly and swiftly is advised.

What Alternatives Does It Offer?

Hodge offers a variety of later-life lending services as equity release alternatives. It maintains a particular focus on the retirement lending market.

These products include the following:

• The 50+ residential mortgage
• A retirement interest-only mortgage
• Holiday let mortgages

Does Hodge Still Have an Equity Release Calculator?

No, there is no Hodge equity release calculator.

However, you can use our equity release calculator below to estimate how much capital you could unlock.

What Are the Pros and Cons of Hodge?

The pros of using Hodge include that it is a well-established later-life mortgage provider, and a disadvantage is that it no longer offers equity release to new clients.

Advantages

The advantages of the firm are:

• It offers one of the widest ranges of retirement plans for those over 50
• It is a multi-award-winning company.
• It is regulated by the Financial Conduct Authority.

Disadvantages

The disadvantages of the firm may include:

• Affordability checks are required
• A minimum property is required to qualify for their plans
• It no longer offers equity release plans

What Do Hodge’s Customers Have to Say About It?

Most customers are very complimentary about the service they have received from Hodge.

According to a Trustpilot review: “Excellent customer service, good rates of interest, and online portal easy to use. First-class bank.”

Reviews

More than 80% of customers have given the firm positive reviews.

You can view all customer reviews and ratings below:

• Hodge Bank reviews received from customers on UK.TrustPilot.com
• Reviews of Hodge Bank on CompareBanks.co.uk

People who have worked at Hodge also generally have great things to say:

Hodge Bank Reviewed on GlassDoor.com

Complaints

If you need to lodge a complaint about Hodge, you can do so in one of the following ways:

• Contact Hodge at feedback@hodge.co.uk or call on 02920787672.
• Any complaints can be sent in writing to Hodge at the following address:
• Customer Experience, Hodge Bank, One Central Square, Cardiff, CF10 1FS.
• Hodge typically deals with all customer complaints within three business days of receipt.
• The alternative option is to leave an assessment on one of the popular review sites, such as Trustpilot or Feefo.

How We Researched and Verified the Information on Hodge

We reviewed Hodge based on the following:

• Reputation and History – How many years they have been in business, customer reviews, and industry rewards received.
• Financial Strength – Ensuring it is going strong and has adequate funds to meet long-term commitments.
• Product Range – We favour companies offering a variety of equity release schemes with greater product flexibility.
• Interest Rates and Fees – We review competitive rates compared to industry averages and they must be fully transparent about rates and fees without hidden costs.
• Customer Service and Support – When and how it is available, response times, and available online educational resources. As well as online tools, like a calculator.
• Code of Conduct and Compliance – We only consider companies that adhere to recognised industry standards and codes.
• Industry Insights and Peer Reviews – We care about a company’s industry-wide reputation.
• Innovation and Technology – Is there a streamlined, digital application process?
• Client Testimonials – Success stories and the complaints resolution process.

Our review of Hodge’s information is as a third-party independent reviewer, and we are not affiliated with it.

FCA Details

Trading Names

Trading names include:

• Hodge Bank
• Hodge
• Hodge Lifetime
• Julian Hodge Bank Limited

FCA Permitted Services

The company is permitted to offer the following services:

• Banking
• Mortgage and Home Finance
• Consumer Credit
• Investments

Regulators

It is regulated by:

• Financial Conduct Authority
• Prudential Regulation Authority

Registration Numbers

It's registration numbers are:

• FCA Ref Number: 204439
• Companies House Number:  0743437

FCA and Companies House Link

Find links here:

• FCA Link
• Companies House Link

How to Contact Hodge

If you like to obtain in touch with Hodge, you can use the following contact details:

• Telephone number: +448007314076
• Email address: support@hodge.co.uk
• Address: Hodge Lifetime, One Central Square, Cardiff CF10 1FS.

Common Questions

Conclusion

Hodge has been a notable player in the equity release sector, providing many customers with tailored solutions over the years. 

Their decision to withdraw in 2021 marked the end of an era in the industry. 

Despite the changes, existing customers are safe, and the legacy and impact of Hodge's equity release will remain a topic of discussion among industry insiders and consumers alike.

The features mentioned and the amounts raised, are subject to the lender’s criteria, terms and conditions. These may take into account the age, health and lifestyle factors in order to provide an enhanced amount. To understand the features and risks, ask for a personalised illustration.