For the first time ever, customers can secure their retirement against rate rises – for life.
In uncertain times, security is key for customer finances. That’s why Hodge has created the Fixed-for-Life RIO – so they know exactly what they’ll be paying for the life of the mortgage.
Who’s it for?
Retirement interest only mortgages aren’t just for people who’ve given up the day job in favour of the quiet life. If an adviser has a potential customer, aged 50 plus, who wants to make the most of the equity in their home and is in a position to make interest payments each month, it could be the right option for them.
The Fixed-for-Life RIO is for customers aged between 50 and 88 who:
- want to release the value in their homes
- are looking for an alternative to equity release
- can afford to keep up the monthly interest payments
Hodge has created a handy Fixed-for-Life RIO [add this hyperlink: www.hodgebank.co.uk/RIO] page to help advisers explain RIO to potential customers.
What does it offer?
- Fixed rates on their RIO mortgage – for its entire duration
- Up to 70% LTV
- Rates from 4.35%
ERCs for the first eight years only.
Retirement has changed, and life seems less certain for this generation than the last. Hodge decided it wanted to provide customers with certainty in later life.
For more information about the Hodge Fixed-for-Life RIO, and any other products which could help later-life customers, visit hodgeforintermediaries.co.uk.
