AToM and Hodge partner up
The lifetime mortgage, which is available for those aged over 55, is a 5-year fixed rate at 4.75% up to 50% LTV .
Early repayment charges apply in the fixed period only, while valuation and legal fees also apply.
Dale Jannels, managing director at AToM, said: “AToM have worked in the retirement arenas for many years and have arranged mortgages for those post ‘working’ life.
“It’s great we can now offer and package a very competitive product offering from Hodge Lifetime, that has a superb 5-year fixed rate and gives customers the comfort that the mortgage term can be for their life if required.
“As this is classed in the lifetime mortgage category, AToM can also assist with applications for brokers not currently authorised in this sector. AToM has a number of qualified staff able to assist those enquiries that currently do not have a home.”
Jon Tweed, sales director of Hodge Lifetime, added: “Hodge Lifetime has specialised in the provision of retirement solutions, and the Retirement Mortgage is our latest innovation in order to meet the evolving needs of the market.
“Being a lifetime mortgage, it offers clients a balance between the flexibility of standard mortgages and the peace of mind of a mortgage term that lasts for the rest of the client’s life.
“We are delighted to be partnering with AToM in offering another solution for advisers when considering their customers’ needs for borrowing into retirement.”