Quiz
Hodge Quiz
Questions in this quiz (15)
1What is the minimum drawdown amount available?
- A£1,000
- B£2,000
- C£5,000
- A£1,000
2What is the minimum initial sum for the Lump Sum LTM?
- A£10,000
- B£15,000
- C£20,000
3What is the format of Hodge's reserve amounts?
- AInitial plus remaining available sum.
- BInitial plus £5,000 minimum.
- CInitial plus 2 x initial.
- AInitial plus remaining available sum.
4How much does Hodge charge to access their drawdown facility?
- A£49
- B£99
- C£0
5How does Hodge charge their arrangement fee?
- AThey can add it or deduct it or the client can pay it.
- BThey add it.
- CThey deduct it.
- AThey can add it or deduct it or the client can pay it.
6How long is the continuous period of time you are allowed to leave the property unoccupied before Hodge's conditions are breached?
- A3 months.
- B6 months.
- C12 months.
7How long do the beneficiaries have to repay the plan after the client(s) have left the property permanently?
- A6 months.
- B12 months.
- C12 months or the beneficiaries can take over the plan if they are of qualifying age.
8What is the minimum qualifying age for Hodge plans?
- A55
- B60
- C65
9What type of ex-local authority property does Hodge generally accept?
- AGenerally only houses
- BGenerally houses and flats
- CThey do not generally accept either.
10What could invalidate the no negative equity guarantee?
- Aif your home has not been kept in a good state of repair or if it was not sold at its fair market price.
- Bif your home has not been kept in a good state of repair or If you have left your home unoccupied for more than the allowed time period.
- Cif your home has not been kept in a good state of repair or if you become bankrupt.
- Aif your home has not been kept in a good state of repair or if it was not sold at its fair market price.
11How does the Hodge interest servicing option work?
- AMinimum of £500 and a maximum of twice per year up to a maximum of 10% per year. The first payment must be made after the first year. A standing order is mandatory.
- BMinimum of £500 and a maximum of twice per year up to a maximum of 10% per year. The first payment can be made during the first year. A standing order is optional.
- CMinimum of £500 and a maximum of twice per year up to a maximum of 10% per year. The first payment can be made after the first year. A standing order is optional.
12What is the maximum early repayment charge percentage with Hodge?
- A15%
- B20%
- C25%
13What happens if you repay a Hodge plan and the Gilt Yield is the same as at completion?
- AYou incur a charge.
- BYou only incur the Early Release Fee (Maximum 5%).
- CHodge only use Swap Rates.
14When is the early release fee applicable?
- AOnly when moving house.
- BOnly when staying in your home and repaying the loan.
- COnly If repaid within the first 5 years
15What is the minimum initial sum allowed for the Hodge Drawdown LTM?
- A£15,000 initial plus £5,000 reserve.
- B£20,000 initial plus balance of available monies
- C£10,000 plus £5,000 reserve.
- A£15,000 initial plus £5,000 reserve.
Information
- Description
- Quiz on Hodge Quiz, created by peter.huckerby on 10/06/2013.
- Author
- peter.huckerby
- Language
- English
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