Hodge Equity Release: What Happened and What Are Your Options?
Important Update: Hodge Equity Release Is No Longer Available
Hodge Lifetime equity release products are no longer available to new customers.
Hodge Life Assurance Company has been sold to Reinsurance Group of America (RGA), and as a result, it has withdrawn from the equity release market.This means:
You cannot take out a new Hodge equity release plan
Existing customers are not affected, and their plans continue as agreed
What This Means for You
If you were considering Hodge equity release, you now have two options:
If you already have a Hodge plan
Your plan remains in place
Terms and protections (including no negative equity guarantee) still apply
You should contact your provider or adviser for any changes
If you were planning to apply
You will need to consider alternative providers
The good news is that the UK equity release market remains active, with multiple lenders offering similar products
What Hodge Offered (Context Only)
Before leaving the market, Hodge was one of the longest-established equity release providers in the UK, with roots dating back to 1965.
Its products included:
Lump sum lifetime mortgages
Flexible drawdown plans
Indexed (inflation-linked) lifetime mortgages
Options with fixed and variable early repayment charges
Hodge was particularly known for:
flexible repayment options
relatively high loan amounts (up to £1m in some cases)
index-linked products (now less common in the market)
What Are the Alternatives to Hodge Equity Release?
Although Hodge is no longer offering plans, there are several well-established providers still active in the market.
These include:
Aviva
Canada Life
Just
Pure Retirement
Legal & General
LiveMore
These lenders offer lifetime mortgages, which remain the most common form of equity release in the UK.
Most plans include:
No negative equity guarantee
Optional repayments
Drawdown facilities
The right to remain in your home for life
The Most Important Step: Compare the Whole Market
Equity release is highly personalised.
The amount you can release, the interest rate offered and the most suitable product will depend on:
Your age
Your property value
Your financial needs
Your long-term plans
Because of this, it is important to compare equity release options across multiple lenders.
A whole-of-market adviser such as Age Partnership can:
Compare plans from leading providers
Explain the differences between products
Help you find a solution tailored to your circumstances
Consider Alternatives Before Equity Release
Equity release is a major financial decision and may not be the right option for everyone.
Before proceeding, you should consider:
Downsizing to a smaller property
Using savings or investments
Taking in a lodger
Checking eligibility for state benefits
Independent financial advice is required before taking out any equity release plan.
Key Takeaway
Hodge was one of the UK’s longest-established equity release providers, but it is no longer offering new plans.
If you were considering Hodge, the next step is to:
Explore alternative lenders
Compare plans across the market
Seek regulated financial advice
This will help ensure you find the most suitable solution for your circumstances.
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Our aim is to provide you with clear and accurate information to help you research your chosen financial products and services. The material on this site is for general information only and does not constitute any form of advice or recommendation.
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