Mortgages help and support

Please refer to your mortgage offer and terms and conditions to find out if you’re eligible to let your property. We’ll need to agree to this. Contact us at 0800 7314076 to discuss your options.

Early release fees are a fixed percentage, and they reduce over time on what’s known as a sliding scale. Our early release fees for our equity release plans are:

Years 1 to 4 = 5%
Year 5 = 4%
Year 6 = 3%
Year 7 = 2%
Year 8 = 1%

The variable repayment charge applies until the youngest customer reaches the age of 90. The charge could be up to 25%.
The charge is calculated using swap rates and can vary on a monthly basis. If the swap rate is lower in the month you redeem compared to the month you completed, a variable repayment charge will apply.

Please note, this only applies to Equity release products and not our residential mortgage range.

Contact us and we will send you a certificate of interest for the tax year.

To apply for a lower rate, you would need to pay the balance of your current mortgage and potentially pay an early repayment charge. You’ll need to speak to an independent financial adviser first to make sure it’s the right option for you. If your mortgage is on the Standard Variable Rate (SVR), you can refix your interest rate at any time, as long as you have a minimum of two years remaining on your mortgage term.

Find out more here.

We’re committed to providing you with the best possible service. If you don’t think we’ve done that and would like to make a complaint, you can do so over the phone, by email or in writing. Find out more.

A Standard Variable Rate (SVR) mortgage means your payments can go up or down according to changes in interest rates which is determined by us. You won’t have any early repayment charges and you can overpay or redeem without penalty.

You can find the current Standard Variable Rate here.

We don’t hold copies of your title deeds. If you need a copy please ask the solicitor who acted for you when you purchased your property or contact the Land Registry. Find out more.

Annual statements are produced on the anniversary of the start of your mortgage and sent to you by post.

You can repay your mortgage at any time but, depending on the circumstances, you might incur early repayment charges.

We try to be as flexible as possible and understand things don’t always go to plan. That’s why we’ve created our Hodge Early Repayment Promise, meaning you won’t have to pay any early repayment charges if you move out of your home and pay the mortgage off in full.

You may be eligible to switch your mortgage deal to a new fixed rate.

Find out more here.

You’ll need to contact us to change your details. You can email [email protected] or call our customer services team on 0800 731 4076. Our lines are open Monday – Friday 9am – 5pm.

There may be circumstances when you need to add or remove a borrower on your mortgage.

This is called a transfer of equity, and you must take advice to do this from a financial adviser or broker. They will be able to talk you through your options in detail and submit an application for you.

Your new mortgage deal takes effect as soon as the existing rate ends, as long as we receive a signed offer before the deadline outlined on your rate switch letter. If you’re currently on a Standard Variable Rate (SVR), we will switch the rates the month after we receive the signed offer, providing it’s returned before the deadline outlined. For more information, please call 0800 7314 076

If you know what mortgage deal you want and are confident you don’t need financial advice, you can complete and return the form yourself.

If you don’t understand the details of your new mortgage deal, or you’re not sure which mortgage deal would be suitable for you, you can return to your original Independent Financial Adviser (IFA) or visit Find 27,000 IFAs, Financial Advisers, Mortgage Brokers, Accountants & Bookkeepers | Unbiased to find a new one.

An Independent Financial Adviser will look in detail at your current needs and circumstances to find the most suitable option for you.

By choosing to use an independent Financial Adviser you’ll be protected by the Financial Conduct Authority (FCA). If you choose not to take financial advice, you won’t get the same Financial Conduct Authority (FCA) protection you would get with an advised service.

We’ll write to you 90 days before your current mortgage deal comes to an end.

This will include an application form that you’ll need to sign and return. We’ll then issue a mortgage offer confirming details of your new mortgage deal and mortgage payments.

You’ll need to return the signed mortgage offer for the new mortgage deal to take effect. Alternatively, you can talk to your independent financial adviser to do this on your behalf.

You need to choose a mortgage deal from the same product family. This means that if you have a Resi Retire (50+) or Residential Interest Only mortgage with us, you need to choose another Resi Retire (50+) or Residential Interest Only mortgage.

There aren’t any legal or valuation fees and we don’t need to complete any credit or affordability checks. However, you’ll need to pay any product fee associated with the new deal and, once in place, new early repayment charges may apply.

If you don’t switch your mortgage to another fixed rate at the end of your previous fixed rate period, you’ll move onto our Standard Variable Rate (SVR). Your payments will increase and decrease in line with the changes to the Standard Variable Rate.

Find out more here.

You may be eligible to switch your mortgage deal to a new fixed rate. If your mortgage deal ends and you don’t switch, your current mortgage will move on to our standard variable rate (SVR) which could be higher than your current rate.

If you aren’t coming to the end of your deal, you may be able to switch early but you may have to pay an early repayment charge to exit your current deal.

If the mortgage is held in joint names and the other party is living in the property then nothing will happen until that person moves into long term care or passes away.

At this point the property will need to be sold and the mortgage redeemed within 12 months. After the last surviving customer moves into long term care or passes away the mortgage becomes due for redemption. Usually, the outstanding balance is redeemed through the sale of the mortgaged property. Once we receive of the full redemption funds, we discharge our interest in the property and it’s title at the Land Registry. We expect to receive full redemption funds within 12 months of the date the last surviving customer goes into long term care or passes away.

This depends on the type of mortgage you have. Our equity release products and lifetime mortgages are covered by the no negative equity guarantee meaning you’ll never owe more than your property is sold for.

If your mortgage is held in joint names and survived by the other mortgage holder then no change will take place.

If the mortgage is held in a single name or both mortgage holders pass away then we’ll get in touch with the customers’ representatives to discuss redemption of the mortgage. Usually, the outstanding balance is redeemed through the sale of the mortgaged property. Once we receive of the full redemption funds, we discharge our interest in the property and it’s title at the Land Registry. We expect to receive full redemption funds within 12 months of the date the last surviving customer passes away. From the date the last customer passes away until funds are received, the mortgage is classed as unredeemed.

It’s entirely up to you. If we’re given proof of a Power of Attorney then we may be able to discuss your account with your attorney and allow them to make decisions about your account on your behalf.

You can send the original Power of Attorney document to Customer Services, Hodge, One Central Square, Cardiff, CF10 1FS or a solicitor certified copy by email at [email protected].

We’ll need to run identification checks so we’ll also need to see your passport or driving license (original or solicitor certified copy) and a utility bill showing your address and dated within the last 3 months.

If you can’t send us an original, you can also send us:
– A solicitor certified photocopy with original solicitor’s signature, company stamp and a declaration confirming the document to be a true copy of the original on each page.
– A donor certified photocopy, certified and signed by the donor on each page with the specific wording confirmed on the gov.uk website gov.uk/power-of-attorney/certify

To make sure your documents reach us safely, we advise sending them via recorded delivery. We’ll send them back to you in this way, too.

If you can’t send us the original or certified copies of the Power of Attorney document you can also send us an access code provided by the gov.uk website when registering your Power of Attorney. These are 13 characters long and start with a V. We’ll use this code to access the power of attorney online from the gov.uk website office of public guardian.
gov.uk/government/organisations/office-of-the-public-guardian

If you send us the access code you’ll still need to send us proof of identification and address.

Once we’ve got all your documents and can verify your identity we’re usually able to set you up on the account within 24 hours. We’ll contact you to confirm when this has been done.

If you go into long-term care, you’ll usually need to sell your home to pay off your Equity Release mortgage. Until that’s been done, you’ll keep accruing interest.

We understand it can be very difficult to talk to someone if you’re struggling to pay your mortgage but we’re here to help. If you’re struggling to pay your mortgage, please let us know as soon as possible, our friendly and experienced team can help you understand what options are available to you.
You can call us on 0800 138 9129 or email us at [email protected]. We’re here Monday – Friday 9am – 5pm (excluding Bank Holidays).

If your family member has passed away, please let us know as soon as possible. We’ll guide you through the next steps and exactly what we need to make the necessary changes to the account. Our team will take some details, ask for a copy of the death certificate and let you know what you need to do next. You can email us at [email protected] or call 0800 731 4076.

Yes, you can. If you’d like to make a withdrawal please email [email protected], call us on 0800 731 4076 or write to Customer Services, Hodge, One Central Square , Cardiff, CF10 1FS.

Once we receive your request for a withdrawal, we’ll send you an offer letter. You can then accept this and let us know by email, phone or post. Once you’ve let us know you’re happy to go ahead, we’ll send the money to your chosen bank account within 3-5 working days.

The rate for a flexible withdrawal is the current rate of our flexible lifetime mortgage, please call us on 0800 731 4076 to find out more.

If you’d like to make a withdrawal, you can email [email protected], call us on 0800 731 4076 or write to Customer Services, Hodge, One Central Square , Cardiff, CF10 1FS.

Once we receive your request for a withdrawal, we’ll send you an offer letter. You can then accept this and let us know by email, phone or post. Once you’ve let us know you’re happy to go ahead, we’ll send the money to your chosen bank account within 3-5 working days.

Yes, it’s essential to obtain financial advice before applying as it’s important to consider all options on the market. You should also consider any benefits and grants which may be available to you.

Paying interest on your mortgage could impact the income needed to fund your retirement. We encourage you to discuss retirement plans with your independent financial adviser to make sure you can still afford your mortgage, even if your circumstances change.

We review the Standard Variable Rate regularly. The standard variable rate may change to reflect changes in the Bank of England base rate or due to our funding or administration costs, economic effects and the impact of new laws or regulations. If it changes, we’ll always give you reasonable notice as to how this will affect your repayments, if at all.

Borrowing up to 85% is available on repayment or 75% on interest only subject to affordability.

The final amount we’ll lend is based on our assessment of your ability to afford the loan. We’ll look at employment income (including self-employed) and retirement income that’s currently being paid or is forecast to be paid upon retirement. We’ll also look at outgoings including any loans or financial commitments already in place.

As a responsible lender, we provide mortgages that are affordable now and in the future. For the Resi Retire (50+) mortgage, it’s essential the repayment strategy offers you sufficient funds to repay the loan at the end of the term. This is why consulting with an independent financial adviser is important before deciding which mortgage product is best for your circumstances.

Yes. If you have one of our residential mortgages, Resi Retire (50+), RIO or Holiday Let, you will make monthly payments to pay the interest each month. As you are only paying off the interest and not the capital balance you will have to repay the full mortgage amount at the end of your term. If you are a RIO customer, your mortgage term ends when you pass away or go into long term care.

The Resi Retire (50+) product is a mortgage that runs either, into, or during retirement.  You determine the length of the loan and the repayment method. This can be repayment or interest only. The RIO mortgage is also an interest only residential mortgage, available from age 50, but it has no end date. The mortgage is repaid when the last surviving customer moves into long term care or passes away.

Eligibility for our mortgages varies by product and person.

You can learn more by visiting our product pages or speaking to an independent financial adviser. Find out more about our different mortgage products here 

We transfer funds to your solicitor the day before completion in readiness for completion the following day. Your solicitor should provide 5 days’ notice for completion and 10 days if a new build property and a reinspection applies.

Unfortunately, we can’t take payments online, but you can pay by bank transfer or cheque. Please contact us by email at [email protected] or call us on 0800 731 407 and we’ll confirm our account details for you.

If you want an update or confirmation documents have been sent, you can speak to your independent financial adviser, email [email protected] or call us on 0800 731 4076.

If you’re unsure if we’ve received documentation relating to your application you can email us at [email protected] or call us on 0800 731 4076 and we’ll be able to check for you.

Taking out a mortgage is a big commitment and we need to be sure you’re making the best choice for your individual circumstances. An independent financial adviser will be able to talk you through your options in detail and apply for you.

Unfortunately, we can’t recommend an Independent Financial Adviser. However, unbiased.co.uk is a good place to start your search.

Visit Unbiased.co.uk

The length of time it takes for your mortgage application to complete will depend on your individual circumstances. The average application takes 12 weeks from start to finish but this can change depending on the work involved. Your independent financial adviser will be able to keep you up to date through the process.

You can take out our mortgages either on your own or with someone else. We look at a wide range of income types (like pension, investments, and rental) and your independent financial adviser will be able to help you decide the best course of action. We look at all applications on a case-by-case basis and try to be as flexible as possible.

If you’d like to make a withdrawal, you can email [email protected], call us on 0800 731 4076 or write to Customer Services, Hodge, One Central Square , Cardiff, CF10 1FS.

Once we receive your request for a withdrawal, we’ll send you an offer letter. You can then accept this and let us know by email, phone or post. Once you’ve let us know that you’re happy to go ahead, we’ll send the money to your chosen bank account within 3-5 working days.

If your family member has passed away, please let us know as soon as possible. We’ll guide you through the next steps and exactly what we need to make the necessary changes to the account.

Our team will take some details, ask for a copy of the death certificate and let you know what you need to do next. You can email us at [email protected] or call 0800 731 4076.

Eligibility varies by product.

You can learn more by visiting our product pages or speaking to an independent financial adviser.

If you’d like to borrow additional funds, the first step is to speak to an independent financial adviser who’ll look into it and advise you of the best options. They can then apply for this on your behalf.

You can contact us anytime for a redemption quote. Depending on the type of mortgage you have and how long you’ve held it you maybe subject to early repayment fees.

If you’d like to pay off your mortgage early, your early repayment charges will depend on your circumstances.

If you hold an equity release mortgage you might find our early repayment charge factsheet useful. You can find it at hodgebank.co.uk/erc

If you have a residential mortgage you may benefit from the Hodge Early Repayment promise. You don’t have to be downsizing to benefit from the Hodge Early Repayment Promise. If you sell your home, pay off your mortgage completely and move out, we’ll waive your early repayment charges – giving you one less thing to worry about. You might be buying a bigger property, moving in with someone else or retiring abroad – it doesn’t matter. As long as you’re paying off your mortgage in full and moving out of your home, you won’t pay any early repayment charges. If you have a life time mortgage, equity release product or took your residential mortgage after December 2020, you can also call us on 0800 731 4076 to discuss early repayment with one of our experts.

If you have a 50+, RIO or Retirement mortgage taken before December 2020, please call 0800 289 358 to discuss your early repayment.

Porting your mortgage to a new home takes 12 weeks on average from start to finish. This will vary depending on your circumstances.

Yes, you can apply to borrow more money through an Independent Financial Adviser. It doesn’t need to be the same adviser who set up your original mortgage. You can find an adviser at www.unbiased.com

You may be able to move your mortgage to your new home (this is known as porting). You’ll need to complete our moving home application form. Our Property Underwriters will then review the new property (meaning you’ll need another survey on it) to check that it’s acceptable. If you have any questions about moving home email [email protected] or call us on 0800 731 4076.

If you’d like to borrow additional funds, the first step is to speak to an independent financial adviser who’ll look into it and advise you of the best options. They can then apply for this on your behalf.

You’re able to pay an additional 10% of your mortgage balance each year without penalty using the flexible repayment option. If you choose to use this option, then you can make payments by bank transfer or cheque.

You’re not able to increase your direct debit to use your flexible repayment option but you can set up your own standing order. It’s important to note that if you choose to set up a standing order the total amount paid in a 12-month period can’t exceed your 10% allowance.

Your first payment will be taken on your chosen payment day of the following month. You’ll notice an increase in the first payment as it will include charges for the period between the completion of the plan and the first payment date.

This varies depending on what part of the month your mortgage completes as we need time to set up your direct debit. If you complete early in the month, then your first payment is likely to be due the following month. If you complete in the latter half of the month, then your first payment may not be collected the following month but the month after that. It’s important to note that your first payment will be higher as an element of this payment will include accrued interest. You’ll receive a welcome letter shortly after completion which will explain how accrual works and when your first payment is due.

Yes. To change your bank details you’ll need to complete a new direct debit mandate.

You can download this here. We’re unable to change bank details until the first payment has been taken.

We can’t accept monthly payments from business bank accounts, that includes Limited Company or Sole Trader accounts.

We realise unforeseen situations occur in life. If you’d like a payment holiday to support a specific situation, please get in touch. We review all cases on an individual basis. A member of our customer care team will need to carry out a fact find exercise over the phone before we agree to this. If you’re finding it difficult to pay your mortgage, please call the customer care team on 0800 138 9129 and we can discuss options with you.

Equity release and lifetime mortgage redemption statements are valid for 14 days from the date generated. Residential and holiday let mortgage redemption statements are valid for one month. Any payments received between the date the statement is created and redemption occurring may not be taken into account on your statement.

You can contact us anytime for a redemption quote. Depending on the type of mortgage you have and how long you’ve held it you maybe subject to early repayment fees.

We’re not currently able to take payments over the phone. You can make payments by bank transfer or cheque. Please email [email protected] or call us on 0800 731 4076 and we’ll confirm the details. Alternatively, you can send a cheque to Customer Services, Hodge, One Central Square, Cardiff, CF10 1FS. Please include your reference number.

The early repayment charge on your equity release mortgage is usually made up of one or both of the following.

Early release fee: if you want to redeem part or all of your mortgage in the first 8 years, this fee is calculated to recover the costs we incurred in setting up your mortgage. In years one to four of the mortgage this charge is 5% of the capital repaid falling to 4% in year five, 3% in year six, 2%in year seven and 1% in year eight.

Variable Repayment Charge: we put in place fixed rate funding to match the duration of your fixed rate mortgage.
The charge is calculated to reflect the cost of the mismatch which arises if you repay your mortgage earlier than we expected.
This charge is calculated using the formula:
VRC = (90 – current youngest age) x (fall in 25-year swap rate) x balance repaid. If you have any questions about your early release fee or variable repayment charge, please get in touch and we’ll be happy to talk you through.

If you’d like to make additional payments, please get in touch with our team with your account reference number. We’ll then be able to give you all the information you need to make any additional payments. You can make additional payments by bank transfer or cheque. We’re not currently able to take payments over the phone. Please email [email protected] or call us on 0800 731 4076 and we’ll confirm the details. Alternatively, you can send a cheque to Customer Services, Hodge, One Central Square, Cardiff, CF10 1FS. Please include your reference number.

The 25-year Swap Rate is the rate quoted in the money markets for borrowing money at a fixed rate of interest over 25 years.

We expect lifetime mortgages to last around 25 years on average, so this rate determines our costs – and affects your early repayment charge for our Equity Release mortgages. For more information or to discuss early repayment, please email [email protected] or call 0800 731 4076.

When your fixed rate ends, if you don’t take out another fixed rate deal, you’re automatically moved onto our Standard Variable Rate (SVR). We’ll let you know in advance that your rate is coming to an end and talk you through your options. If you’d like to know more, email [email protected] or call us on 0800 7314076.

In any one year, starting from the day your mortgage started, you can pay up to 10% of the capital borrowed (in a maximum of 12 payments) on top of your normal monthly payments.

In any one year, starting from the day your mortgage started, you can pay up to 10% of the capital borrowed (in a maximum of 12 payments) on top of your normal monthly payments.

If you’d like to pay off your mortgage early, your early repayment charges will depend on your circumstances.

If you hold an equity release mortgage you might find our early repayment charge factsheet useful. You can call us on 0800 731 4076 to discuss early repayment with one of our experts.
If you have a residential mortgage you may benefit from the Hodge Early Repayment promise. You don’t have to be downsizing to benefit from the Hodge Early Repayment Promise. If you sell your home, pay off your mortgage completely and move out, we’ll waive your early repayment charges – giving you one less thing to worry about. You might be buying a bigger property, moving in with someone else or retiring abroad – it doesn’t matter. As long as you’re paying off your mortgage in full and moving out of your home, you won’t pay any early repayment charges.
If you have a 50+, RIO or Retirement mortgage taken before December 2021 , please call 0800 289 358 to discuss your early repayment.

There’ll be a no negative equity guarantee in place. This means,  provided you’ve complied with the terms of this guarantee.

• When you move into long term care or pass away, if the value of your home isn’t enough to repay in full the amount you borrowed, you won’t be liable for the difference.
• If you’ve exercised the Interest Roll-up  Option then move into long term care or pass away, if the value of your home isn’t enough to repay the mortgage and rolled-up interest you won’t be liable for the difference.

The No Negative Equity Guarantee doesn’t apply if you repay your mortgage early, if your home hasn’t been kept in a good state of repair or if it wasn’t sold at its fair market price.
Hodge may instruct an independent valuation of your home at the time of sale to determine if this is the case. The full terms of this guarantee are set out in our Terms and Conditions. There’s no charge for this guarantee.

Yes. You will make payments on the remaining part you haven’t rolled up. To find out more about this option please email [email protected] or call us on 0800 731 4076.

The mortgage is lifetime mortgage which means it’s repaid when the last named person on the mortgage either goes into long term care or passes away.

Yes, you can repay your mortgage, in part or in full, at any time. As the roll up will be on standard variable rate no early repayment charges will apply.

You can’t revert back to payments once you’ve opted to roll up.

No, but if your circumstances have changed then there may be more suitable products available where advice would be a more suitable option. You can find an adviser at unbiased.co.uk

The roll up will start from the following month so you won’t need to make monthly payments unless you’ve partially rolled up.

You must be age 80 or over. If it’s a joint mortgage then the youngest applicant must be age 80 or over. You must also have held your mortgage for a minimum of five years. Both elements have to apply for you to be able to roll up.