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.”