Hodge Lifetime Flexible Lifetime Mortgage V1 (Fee Free Fixed ERC)
Contributors: Nicola Date, Katherine Read. Rachel Wait & Reviewed by Francis Hui
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Hodge Lifetime Flexible Lifetime Mortgage V1 (Fee Free Fixed ERC) Review
Lifetime Flexible Lifetime Mortgage V1 (Fee Free Fixed ERC) Key Details
| Type | Rate | APR | |
|---|---|---|---|
 |
Fixed | 4.36%% | 4.45%% |
Scheme Incentives
- No Completion Fee
- Free Application
Scheme Offers
- Fixed Early Repayment Charges
- 30% Maximum LTV
I think you’ll agree with me when I say:
It’s REALLY hard to choose the best equity release scheme with all the choices available.
Or is it?
Is the Hodge Lifetime Flexible Lifetime Mortgage V1 (Fee Free Fixed ERC), equity release scheme the best?
Don’t let your equity release dream become a nightmare!
Luckily, we’re here to guide you on the ins and outs of equity release, as you deserve only the best.
However, it’s important to remember that not all plans are suited to each individual. You need to look for one that will serve your home, your lifestyle, and the reason why you’re considering equity release in the first place.
As leading experts in the field, we’ve delved into hours of research, unpacked all the equity release plans on the market (we’ve reviewed over 250 schemes!), and discovered the best in the business.
- We'll provide detailed information about the Lifetime Flexible Lifetime Mortgage V1 (Fee Free Fixed ERC) scheme.
- We’ll help you assess whether this plan could be right for you and your family.
- We'll explain how low the current interest rates are for the Lifetime Flexible Lifetime Mortgage V1 (Fee Free Fixed ERC) product.
What’s Equity Release?
An equity release mortgage is, in a nutshell, a loan plus interest that is paid back to the lender when the homeowner passes away or goes into permanent care. The homeowner’s family usually pays back the cash released, and the interest incurred, from the sale of the home in question.
Learn More: What’s Equity Release?
How Does Equity Release Work?
Equity release is available for individuals or couples over the age of 55, with the youngest homeowner’s age determining the amount of equity that can be released. It is important to note that some equity release schemes may require the homeowner to be 60 or older.
Learn More: How Does Equity Release Work?
We’ve summed up the most important information about the topic in this quick video.
How Much Can You Release?
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Most popular reasons for releasing equity
- Boosting retirement income.
- Paying off credit debts or loans.
- Gifting money to family. (E.g. To help children pay a deposit on their first house)
- Taking a trip of a lifetime.
- Replacing your car with the one you've always wanted.
- Making home & garden improvements.
Who Are Hodge Lifetime?
Scheme Background
Hodge Lifetime is a leading innovator in the post retirement mortgage industry and the first to offer a mortgage specifically designed to allow homeowners to take their borrowing into retirement.
They continue to narrow the gap between residential & retirement mortgages with the new Hodge Lifetime 50+ Residential mortgage, an interest-only mortgage available to borrowers who are 50 years and older.
Hodge Lifetime is a trusted provider of retirement products since its inception in 1965 and in 1991 were a founding member of the trade body SHIP (Safe Home Income Plans), known today as the ECR (Equity Release Council).
Hodge Lifestyle is most well-known for balancing solid products with social responsibility, intentionally fostering a strong connection with charity and social causes.
Eligibility & Requirements
This equity release plan from Hodge is available to a maximum of two applicants on a single and joint life basis.
Scheme Features
Scheme Options
Scheme Options
Hodge Lifetime's Other Equity Release Schemes
Are you looking for a specific equity release scheme?
Not what you're looking for?
Have a look at all the equity release schemes available on the market, with our easy-to-use table or compare interest rates on equity release!
Editorial Note: This content has been independently collected by the SovereignBoss advisor team and is offered on a non-advised basis. Sovereignboss may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. Learn more about our editorial guidelines.
HOW MUCH EQUITY CAN YOU RELEASE?
Most people are using equity release as a means of retaining the use of their house while also obtaining a lump sum or a steady stream of income. Get matched with an expert and check your eligibility for equity release options.
See how much you can release today!
