Hodge Lifetime welcomes free equity release service

Retirement solutions provider Hodge Lifetime has welcomed the launch of the Consumer Credit Counselling Service’s (CCCS’) free equity release advice service.

The debt charity introduced the new service in response to increased inquiries from people of retirement age who are struggling to cope with debt, which can be exacerbated by illness and retirement.

Hodge Lifetime’s managing director, Jon King, said he welcomed the CCCS’ “innovative concept in equity release advice”. He believes the service, which will offer the services of three equity release advisors, is an “important addition” to the range of equity release services currently on the market.

Meanwhile, CCCS said the new service offered people of retirement age a “safe environment” to assess the various equity release possibilities available. To ensure customers are given impartial advice, its advisors will not receive commission or bonuses if a customer decides to pursue an equity release option.