As the later life market adapts to suit the needs of the new retirees – and in some cases reluctant-retirees – it’s important to stay up to date with the products available to help them make the most of life and the moments that matter.

Equity Release is often the go-to option for those looking to get a little something back from the place they call home. Along with the changing face of the market, we’ve stepped away from the traditional and we offer some great alternatives.

To help you get up to speed with the rapidly changing landscape, here’s our quickfire guide to the mortgages available to your customers from Hodge.

The Hodge 50+ mortgage is available to customers from the age of 50, there’s a product term so they’ll be able to choose the length of the loan. They’ll also choose how they’ll repay as we offer repayment or interest only, we don’t prescribe which one is best, as their adviser we’ll leave that to you, if they go with IO, a repayment vehicle is needed to repay the outstanding mortgage at the end of the term.

RIO – or retirement interest only – is also available from age 50 but this option comes with no end date and as the name suggests is interest only. Your customer repays the interest monthly and then the capital owed is repaid from the sale of their house when they move into long-term care or pass away.

Another important factor with 50+ and RIO at Hodge is income, we’re an expert in over 50s borrowers, we’ve been offering products in this space for more than 50 years and we know no two customers look the same.

What makes us different? We’ll consider earned income, both employed and self-employed, up to a maximum age of 80, we’ll look at both pre and post retirement income and there’s no upper age limit if the mortgage is affordable on pension income. Our underwriters take a common sense approach and work with you to come up with a solution as unique as your customer’s needs.

With up to 75% LTV, we’ll consider lending up to six times income on a like-for-like remortgage and we lend from age 50 with no end date for RIO .

Add to that only one client needs to be aged 50, we can look at a second applicant under 50 in this instance and you’ll start to see why we stand out.

So why 50+ or RIO over equity release? And will be client be less protected in terms of things like moving house and the no negative equity guarantee?

We can’t tell you what’s best for your client, only you know that – but we can tell you we have many assurances we can offer. The no negative equity guarantee still stands and we offer this across all our over 50s product ranges. We also allow your client to move house and take the loan with them if they wish subject to our T&C’s.

We give you more, our early repayment promise allows your clients to sell up and move, repaying us from the proceeds without ERCs. As well as this we’ll allow 10% annual overpayments so our mortgages are always worth consideration when talking to your over 50s clients.

What else do I need to know?

At Hodge we care about your clients, we’ll work with you to find a solution. From the off, we’ll offer you access to two BDMs both field and phone and they’ll work with our underwriting team to understand and support you throughput the application journey so you can get it right for your client. Just get in touch, we love a case with a story and we’d love to hear from you.

We love a case with a story, get in touch today, call us on 0800 138 9109 or visit Hodge for Intermediaries for full details of our mortgages as well as how to register with us and access your BDM experts.