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Retirement specialist joins Openwork lender panel

  • 25/10/2016
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Retirement specialist joins Openwork lender panel
Hodge Lifetime has joined Openwork’s lender panel with immediate effect.

The retirement market specialist will provide Openwork advisers with access to its 55+ Mortgage interest only residential loan, which carries a rate of 3.10% for a two-year fix or a rate of 3.30% for a five-year fix.

Paul Shearman, mortgage proposition director at Openwork, said the 55+ Mortgage was a welcome addition for  Openwork’s mortgage advisers.

He added: “With the later-life lending sector continuing to grow, the 55+ Mortgage offers a great solution for clients of retirement age that have a credible repayment strategy and proven affordability looking for an interest-only mortgage.”

Earlier this month Danske Bank was added to Openwork’s lender panel, giving access to the lender’s mortgage products for first-time buyers, remortgages and homemovers.

Additionally, the intermediary arm of Newcastle Building Society launched a three-year fixed rate mortgage exclusively for broker members of Openwork.

The deal from Newcastle Intermediaries is available up to 80% loan-to-value, at a rate of 2.05% with no arrangement fee.

Hodge Lifetime’s business development director, Steve Cox, said it was thrilled to be working with Openwork and was confident the addition of the 55+ Mortgage would give brokers an opportunity to explore the retirement market with their clients.

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