Freephone 0800 802 1051
Freephone 0800 802 1051
Compare Deals Drawdown Flexible Lifetime Mortgage Plus

Hodge Flexible Lifetime Mortgage Plus Rates & Details

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Compare Deals Drawdown Flexible Lifetime Mortgage Plus

Flexible Lifetime Mortgage Plus

  • Type Fixed
  • Rate 4.36%
  • APR 4.55%
  • Free Valuation
  • Free Application
  • 10%pa Flexible Repayment Option
  • Downsizing Protection Feature
  • Variable & Fixed Early Repayment Charges


Hodge Lifetime was original formed in 1965 as Home Reversions Ltd and was a founder member of the trade body - SHIP (Safe Home Income Plans) in 1991, whom itself was recently rebranded as the Equity Release Council. Hodge Lifetime are a subsidiary of Julian Hodge Bank and have now been providing equity release schemes longer than any other equity release UK company.

Specializing in the post retirement marketplace, Hodge Lifetime offer a range of products from annuities to equity release schemes. Their equity release mortgages were the first to incorporate the flexible 10% per annum repayment strategy, of which other lenders have since mirrored. This allows total control of the future balance as necessitated by the homeowner. With additional unique product features, Hodge Lifetime are a leading innovator in this expanding industry - now with Retirement and RIO Mortgages.


The Hodge Lifetime Flexible Plus Plan is initially a drawdown equity release scheme which is ideal for homeowners looking for maximum control over both their future balance, access to additional funds and any possible change in their residence.

Hodge's minimum acceptable property valuation on their Drawdown Lifetime Mortgage is £100,000 with a maximum value of £1m. Please contact us directly on properties valued over £1m as cases can be individually underwritten, with bespoke quotes via Equity Release Supermarket on Freephone 0800 802 1051

The homeowners property must be their main residence and needs to be located within England, Wales and mainland Scotland.

Hodge Lifetime's Flexible Drawdown Lifetime Mortgage is available on both a single and joint life basis with a minimum age of youngest homeowner being 60 and a maximum age at entry of 85.

The minimum release Hodge will accept on any application is £15,000 with a maximum equity release lending amount of £500,000. Please call 0800 802 1051 for your personalised Hodge Lifetime Key Facts Illustration.


The Hodge Flexible Lifetime Mortgage Plus scheme differs from the standard Flexible plan by the amount it releases via the loan-to-value percentages. In essence, the Lifetime Mortgage Plus will release a higher loan amount - typically 4% higher than the Standard Flexible Lifetime Mortgage version. However, the resultant effect is that the Plus plan attracts a slightly higher interest rate than the standard plan.

The Hodge Lifetime Flexible plan comes with a drawdown equity release reserve which provides the homeowner with an overall cash reserve facility. From this, the homeowner can take an initial tax-free lump sum for immediate use. Any unused cash is retained in a cash reserve facility with no interest or charges being applied to it. This is ideal for those needing access to immediate cash but requirements for further drawdown funds to supplement their retirement in the future.

The minimum withdrawal from the cash reserve facility is just £1,000 with no further administration charges for any additional drawdown amounts taken.

The initial tranche of money taken receives a fixed equity release lifetime interest rate, with any future drawdowns being charged at the interest rate applicable at the time of withdrawal.

Hodge Lifetime are members of the Equity Release Council and consequently their plans come with a no-negative equity guarantee. The protection this affords is that upon death and sale of the property, any beneficiaries cannot be left with any personal debt owing to the equity release lender.

There is no regular payment commitment imposed by Hodge, thus the interest if required can be left to roll-up. However, as discussed there is the flexible repayment option which does allow homeowners to make 10% per annum payments to Hodge and control their future balance.

A unique feature of the Hodge Lifetime Drawdown equity release plan is the Downsizing Protection feature which allows the homeowner to downsize or sell-up after 5 years and incur NO early repayment charges. If downsizing within 5 years from inception, then a 5,4,3,2,1% penalty* applies to the amount repaid.


The Hodge Flexible Lifetime Mortgage Plus plan facilitates homeowners to spend their tax-free cash as they wish, with no need in having to make any repayments. However, one of the features of the Hodge Lifetime Plus plan is the Flexible Repayment Option. This enables the homeowner to control their future balance by making repayments of upto 10% of the original amount borrowed each year, with no penalty.

Therefore, should a level balance be required, the homeowner can elect to make repayments of interest-only back to Hodge after 12 months term has elapsed. The Hodge Lifetime UK scheme can be used for capital & repayment purposes also. For instance, if the full 10% allowance is used every year, then the balance would be reduced significantly; ideal if wanting to protect any inheritance. These payments are purely voluntary and the choice of the homeowner and can be made upto four times per annum with a minimum of £500.

The Hodge Downsizing Protection Option can be exercised after inception should the homeowner wish to sell & downsize home. If this occurs after 5 years then NO early repayment charge is levied by Hodge.

*A free valuation on properties valued upto £1 million is currently offered.

To obtain further information or to request a quotation on the Hodge Flexible Lifetime Mortgage Plus scheme, please contact the Equity Release Supermarket team on Freephone 0800 802 1051 today.

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