139423
Description
Mind Map by dominic.young, updated more than 1 year ago
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Created by dominic.young
almost 11 years ago
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Hodge
- what happens if you repay the loan?
- early release fee (downsizing protection)
- yr-1 5%. yr 2 4%...
- doesnt apply if client moves how but only pays a marginal amount off.
- yr-1 5%. yr 2 4%...
- after death or going into a home hodge allow 12mths to sell the property
- admin fee of £180
- admin fee of £180
- variable repayment charge
- to reflect the cost that arises if you repay your loan earlier than expected and we have to unwind this funding
arrangement.
- 90-youngest age * The difference in the long term interest rate between the time you took out and repaid your loan
- 90-youngest age * The difference in the long term interest rate between the time you took out and repaid your loan
- to reflect the cost that arises if you repay your loan earlier than expected and we have to unwind this funding
arrangement.
- flexible repayment option
- after the first anniversay can repay 10% of the initial amount each year
- after the first anniversay can repay 10% of the initial amount each year
- early release fee (downsizing protection)
- key features of hodge
- can draw down as little as £1000
- this reserve can get removed, if it does then no repayment charge can be applied
- this reserve can get removed, if it does then no repayment charge can be applied
- draw down auto set up on whats left for client with ltv
- can draw down as little as £1000
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