Equity Release Products

Product summary – mortgages with fixed early repayment charges

Lifetime Mortgage Indexed Lifetime Mortgage
Product benefit To provide a tax free cash lump sum To provide a tax free cash lump sum
Current interest rate (AER) Standard: 5.0%
Plus: 5.3%
Max: 5.8%
Standard: 3%
Plus: 3.4%
Interest rate type Fixed rate for life Variable rate which tracks movements in the Consumer Prices Index (CPI)
Interest rate guarantee n/a The variable rate will never exceed 8% (AER) or be below 3% (AER).
Overall cost for comparison Standard: 5.1%
Plus: 5.5%
Max: 6.0%
Standard: 3.2%
Plus: 3.6%
The actual rate available will depend on your circumstances.
Ask for a personalised illustration.
Additional features

All lifetime mortgages offered by Hodge Lifetime include the Flexible Repayment Option where up to 10% of initial amount borrowed can be repaid each year with no early repayment charge.

Cash Withdrawal Option No No
Minimum age
(youngest applicant)
55 55
Maximum age
(youngest applicant)
85 85
Minimum property value £100,000 £100,000
Maximum property value £1 million (or £2 million within M25) £1 million (or £2 million within M25)
We may accept properties of more than £1 million (or £2 million within M25) on referral
Standard Loan to Value
(on youngest age available on lifetime and indexed)
15% to 45% 15% to 45%
Plus Loan to Value
(on youngest age available on lifetime and indexed)
19% to 49% 19% to 49%
Max Loan to Value
(on youngest age, only available on lifetime mortgage)
21% to 50% n/a
Minimum loan £15,000 £15,000
Maximum Loan £500,000 £500,000
Arrangement fee £595 £595
Early Repayment Charge Years 1 to 5: 5%
Year 6: 4%
Year 7: 3%
Year 8: 2%
Year 9: 1%
Years 1 to 5: 5%
Years 6: 4%
Year 7: 3%
Year 8: 2%
Year 9: 1%
Locations available England and Wales England and Wales

For more information of each of these products, please read the product summaries by following the quick links below.

These products are lifetime mortgages. To understand their features and risks, ask for a personalised illustration.