Hodge Lifetime offers a range of equity release products to help homeowners unlock the value of their property while continuing to live in it. These products are aimed at providing financial flexibility for those in retirement.
Hodge Lifetime Equity Release Plans
Lifetime Mortgages: Hodge Lifetime provides lifetime mortgages, allowing homeowners aged 55 and over to release tax-free cash from their home. The loan and accrued interest are typically repaid when the last borrower passes away or moves into long-term care.
Retirement Interest Only (RIO) Mortgages: Hodge also offers RIO mortgages, enabling homeowners to borrow against their property while making interest-only payments. The principal loan is repaid upon the sale of the property.
Key Features
- Tax-Free Cash: Access funds without selling your home.
- No Monthly Payments (Lifetime Mortgages): Repay the loan when the property is sold.
- Interest-Only Payments (RIO Mortgages): Manage costs with monthly interest payments.
- Retain Homeownership: Stay in your home for life.
- No Negative Equity Guarantee: Never owe more than the value of your home when sold.
Benefits of Lifetime Mortgages
- Flexible Use of Funds: Use the cash for home improvements, paying off debts, or helping family members.
- Inheritance Protection: Options to protect a portion of your home's value for your heirs.
- Portability: Transfer the mortgage to a new property if it meets Hodge’s lending criteria.
- Fixed Interest Rates: Enjoy predictable costs with fixed interest rates.
Professional Advice
Seeking professional advice is essential when considering equity release. An adviser can provide personalized recommendations based on your financial situation and retirement goals. They help you understand the pros and cons of different options and make informed decisions about your equity release strategy, ensuring you fully comprehend the long-term impact on your financial future.
Next Steps
Choosing the right equity release plan is crucial for securing your financial future in retirement. Getting expert advice can help you make the most of your home's value. By understanding your specific needs and circumstances, an adviser can guide you through the process and help you optimize your financial strategy.
Interested in learning more about Hodge Lifetime equity release and how to maximize its benefits? Speak to a knowledgeable adviser who can provide personalized advice and support.
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