Hodge has made reductions to rates across its 50+, retirement interest-only (RIO) and residential mortgage products of up to 0.35%.
This comes after the lender launched its Hodge Resi proposition, which was a rebrand of its professional mortgage offering. The range offers more options to borrowers with complex incomes, starting from the age of 21 up to their chosen retirement age.
This includes its 50+ mortgage, at 75% loan to value (LTV) and fixed for two years, which has gone down from 5.95% to 5.65%. This product has a £1,995 fee.
At the same tier, the equivalent product with a £1,495 fee has been lowered from 6.05% to 5.75%, while the option with a £995 has fallen by the same amount to a rate of 5.9%.
The fee-free product has also been cut by 0.3% and is now priced at 6.05%.
Across its RIO deals, Hodge has reduced a two-year fix at 75% LTV by 0.35% to 6.2%. This has a £995 fee. The fee-free option has been cut by the same margin to 6.35%.
Hodge also recently launched a pair of five-year fixes to its 50+ and RIO range. These products have been reduced in pricing, with the five-year fixed RIO at 60% LTV falling from 5.57% to 5.52% and the 50+ option at the same tier going from 5.32% to 5.3%.
Emma Graham (pictured), business development director at Hodge, said: “We’re pleased to be announcing further insight-led changes across our range of mortgage products.
“Hodge’s recent introduction of new products and reduced rates reflects our deepening commitment to developing customer-centric mortgage solutions and serving underserved areas of the market.”
Graham added: “The reduction in rates will make our offering accessible to more borrowers from aged 21, helping brokers and customers.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
