Lender Hodge has rebranded its 50+ mortgage deals to Resi Retire and has removed the minimum age restriction of 50 years old.
The change to the lending criteria follows Hodge’s decision to rebrand its professional mortgage to Hodge Resi, making it accessible for borrowers aged 21 and over with complex income streams.
Alongside policy changes, the lender has also added 60% loan-to-value (LTV) deals to its range while reducing higher-fee and lower-rate options.
Emma Graham (pictured), business development director at Hodge, said: “It is key that we are constantly listening to and working closely with our intermediary partners to ensure we are developing products and making changes that really make a difference to the end customer.
“Our new Hodge Resi and Hodge Resi Retire products represent a big change for us here at Hodge. We have fundamentally repositioned our propositions to define our customers based on their goals and aspirations rather than their age, which is historically where the later life lending market has been. We have challenged ourselves and asked why products that cater for customers lending into their retirement stipulate a minimum age of 50.”
