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November 5, 2012

Hodge launches drawdown lifetime mortgage

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by Gill Montia

Hodge launches drawdown lifetime mortgage

Hodge Lifetime has launched a lifetime mortgage with the option to withdraw additional funds after completion of the loan, with the minimum amount set at just £1,000.

Borrowers can also repay 10% of the original loan plus 10% of further withdrawals made each year, without incurring early repayment charges.

Neither is an early repayment charge payable if, after five years, the loan is repaid as a result of the customer selling up and moving to a new property.


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