Are you in the need for a certain sum of money now? Do you find that what you are earning from your pension is less than what you expected? Are you having trouble with covering your daily expenses? If you have answered yes to at least one question from the questions presented up above, you may be interested in a programme that is beneficial for you like the Hodge Shared Growth Option.
If you are at least 65 years old and own a home, you may be the right candidate for an Equity Release Scheme perfectly fitted to your needs. Hodge Shared Growth Option is probably the only Equity Release plan on the market nowadays that requires no application fee.
Looking into Equity Release has never been easier. The providers that offer these products have created a strong reputation from offering wonderful services along with reliable products, particularly because its employees have had experience in this field of finance for over four decades. All you have to do is sit back in the comfort of your own home and investigate a little further about Hodge equity release schemes.
The factors you should take into consideration on engaging into this specific programme are the following:
• You have to own a flat or a house that is well built and solid
• You are the joint or sole owner of a property and you are usually its resident
• You have an age situated between 65 and 85.
• Depending on the value of your estate, you may exchange on average between 30 and 90 percent of the property if you wish to, but this detail depends on your criteria and the selection of the best scheme that suits your needs.
If you think of yourself as a good candidate, all you have to do is a little research on the lenders that provide these kinds of plans. The obvious and definitely most simple method is accessing Hodge\\\'s website. There you can find trustworthy pieces of advice. The company has advisers that are online to answer any questions that may cross your mind. Be aware that matters of this nature are pretty serious, so be sure to check with an Independent Financial Adviser who specializes in this field of Equity Release before making a decision.
There are plenty of different plans out there that might fit your needs. You may also come across different products with different providers. The Hodge Shared Growth Option allows you to gain access to funds for your retirement years as your needs change. This is a great benefit compared to plans that are less flexible.
Home reversion is an equity release plan. Under this plan you have to sell a part of your home and then you obtain a lifetime tenancy agreement. You can live in the home rent free until you pass on or decide to move to a long term care location. At this time you will need to sell the rest of your home to the plan provider, who then sells the home for the full value thus gaining their funds in the process. This type of plan ensures an inheritance for your family, where lifetime mortgages do not.
An example of a lifetime mortgage is the interest only plan. This type of lifetime mortgage will require a monthly payment for the interest accrued. You do not pay the principle balance (the lump sum you took out initially) back until you move out or expire. You lessen the debt owed, but there may be a need to sell your home to repay the loan. You also have to have funds to make the interest payments throughout your retirement. If you obtain the mortgage at 65 and live till 90, this is 25 years of interest paid on the lump sum.
These are just a few of the points about lifetime mortgages to consider as you also look into the Hodge Shared Growth Option. You definitely want to make certain you can afford the plan you choose or have a way to pay it off later on. If you want to save your home for the family you may need a couple of financial products like life insurance to cover the mortgage payment. Speak with your family once you have made a decision or are in the process of making a decision to ensure they understand the financial obligations. Don't forget, financial procedures such as the one afore-mentioned are destined to people that need it. Be sure to check this product as quickly as you can!
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National Equity Release Pension Conference, Bath Street, Bakewell, Derbyshire, DE45 1BX.
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