10 Years of #FRAwards: 2010 - Hodge Lifetime

Why was winning a Financial Reporter Award important for Hodge?

At Hodge we’ve always strived to be innovators in the later life sector, with service and product our priorities. Being recognised as Best Equity Release Lender was a fantastic achievement and helped to ensure we were a key player in the equity release market among some much larger competitors.

What has changed for the business since 2010?

So much! Back then we were entirely equity release focused, we’ve since moved into the over 55s residential mortgage market with our 55+ and 55+ RIO interest only mortgages. Product features have also come along way and it was great to see the rest of the market adopting our flexible repayments option, where customers can make 10% overpayments annually and downsizing protection, giving customers more freedom if they want to sell up and move.

What do you think has been the best development in the industry since 2010?

The introduction of residential interest only mortgages for over 55s. Here at Hodge we believe flexibility and choice are key, there is no one-size-fits-all approach and the more products available in the later life space in terms of mortgages, the more customers can be helped.

What advice would you give a business hoping to scoop an award this year?

Don’t be afraid of the unknown, innovate and look for ways to help the older borrower which currently might not exist and be the best at what you do.

If you could pick one song to play at the Financial Reporter Awards party, what would it be?

RIO by Duran Duran - as one of the first to market with our RIO mortgage we’d choose this song for obvious reasons!