Hodge pulls Flexible Mortgage Option product
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Hodge Lifetime has withdrawn its Flexible Mortgage Option in anticipation of the launch of a new product in 2010.
Quotes for the Flexible Mortgage Option will be available up until 31 December and will be honoured for 30 days. Clients with existing plans will be unaffected.
Jon King, managing director of Hodge Lifetime, says: “As an equity release provider which has been in the market for almost 45 years, Hodge Lifetime has been at the forefront of product innovation. This latest decision reflects our insight into the changing nature of equity release requirements going forward and we look forward to launching a new product in 2010.
Readers' comments (1)
Anonymous | 16 Dec 2009 5:19 pm
Here we go again, another equity release provider pulling the plug. Admittedly it's only one product, but just happens to be their most competitive plan.
Could it be that they, like others, have decided that they can best service the needs of their shareholders with other less cumbersome products that do not require large amounts of pre funding and ring fencing? If this is the case what does this say for the rest of this rapidly contracting market? I hope the new year brings more positive news for the the equity release 'family' of providers,brokers and most importantly customers, but I suspect this may not be the case.
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