Hodge, the intermediary only lender, has reduced rates on its RIO and 50+ mortgage products.
Its 50+ mortgage product, with LTVs of 50 per cent or 60 per cent, will see a drop of 0.30 per cent across the board. While its RIO products with 50 per cent LTV sees a rate drop of 0.20 per cent.
Find details of Hodge’s latest rate reduction, including the new rates for each product, here:
| Product | LTV | Old rate | New Rate | Percentage change |
| 50+ Mortgage 5 year fixed | 50 per cent | 3.00 per cent | 2.70 per cent | 0.30 per cent |
| 50+ Mortgage 2 year fixed | 60 per cent | 3.19 per cent | 2.89 per cent | 0.30 per cent |
| 50+ Mortgage 5 year fixed | 60 per cent | 3.20 per cent | 2.90 per cent | 0.30 per cent |
| 50+ Mortgage 2-year discount | 60 per cent | 3.09 per cent | 2.79 per cent | 0.30 per cent |
| RIO Mortgage 5 year fixed | 50 per cent | 3.10 per cent | 2.90 per cent | 0.20 per cent |
Emma Graham, business development director at Hodge, said: “Hodge is constantly looking to help our intermediary partners in offering competitive and flexible products and this is our latest move to do just that. As a specialist lender in a highly competitive market-place we’re delighted to launch these lower rates across our later life propositions. These reductions in parallel with our common-sense approach to lending and our underwriter’s willingness to assess cases on their own merits means we can now support more of your customers with their lending needs.”