Here is the latest update from the Hodge Bank. You can access their full product set, including equity release via our mortgage club as well as some packaged mortgage options too.
Latest Announcement from Hodge Bank
Unlocking affordability with our enhanced pension criteria
We are pleased to confirm that we’ve increased the percentage of pension drawdown we can accept to help more of your customers lending into retirement.
Previous policy saw us accept 3% of pension drawdown on a blanket basis for all customers.
Our new, enhanced policy allows us to accept drawdown pension income on a sliding scale from 3.3% up to 8% based on the age your customer intends to start drawing down as detailed in the link below.
Click to see our enhanced criteria >>
The average retirement age of our 50+ customers is 69 which would see us use 5.6% of their pension fund for affordability with customers above the age of 77 being able to utilise up to 8%.
