Hodge Lifetime has launched a new range of lump sum equity release products.
The range has loans with both standard and enhanced LTVs of up to 49 per cent.
The lender is also giving the choice between fixed rates or variable rates linked to CPI.
Variable rate loans start from 3 per cent per annum with fixed early repayment charges.
Hodge Lifetime business development director Steve Cox says: “These products enhance and bolster our existing range of retirement lending solutions.
“Providing a broad range of options and flexibility in later life lending remains core to our future strategy.”
Key Retirement technical director Dean Mirfin says: “This launch sees the second lender this year to introduce a variable rate option to the equity release sector, as well as a wider range of client options to complement the wider market.”