Hodge, the specialist lender has announced that it is dropping rates across its 50+, RIO and Professional Mortgage ranges to further support high net worth individuals and those with complex incomes
Hodge, the complex income specialist lender, has announced rate reductions across its Professional, 50+, and RIO Mortgage ranges, offering high net worth individuals and customers with complex incomes even greater financial flexibility in the current climate.
Rates across all of Hodge’s 50+ mortgages are dropping by up to 0.20%, and by as much as 0.15% on its RIO range of products. Rates offered on its professional mortgage product range are also set to decrease by up to 0.20% when the changes come into effect next week.
It is the latest in a series of criteria enhancements and rate reductions made to its mortgage products over the past few months.
As of 9am on Wednesday, November 22, rates are as follows:
| Product | Max LTV | Product Fee | Current rate | New rate | Difference |
| 50+ Mortgage 2 year fixed | 75% | £995 | 6.90% | 6.70% | -0.20% |
| 50+ Mortgage 2 year fixed (fee free) | 75% | £0 | 7.05% | 6.85% | -0.20% |
| 50+ Mortgage 5 year fixed | 75% | £995 | 6.40% | 6.20% | -0.20% |
| 50+ Mortgage 5 year fixed (fee free) | 75% | £0 | 6.55% | 6.35% | -0.20% |
| 50+ Mortgage 2 year fixed | 75% | £1,495 | 6.70% | 6.50% | -0.20% |
| 50+ Mortgage 2 year fixed | 75% | £1,995 | 6.60% | 6.40% | -0.20% |
| 50+ Mortgage 5 year fixed | 75% | £1,495 | 6.30% | 6.10% | -0.20% |
| 50+ Mortgage 5 year fixed | 75% | £1,995 | 6.20% | 6.00% | -0.20% |
| 50+ Mortgage 2 year fixed | 85% | £995 | 7.10% | 6.90% | -0.20% |
| 50+ Mortgage 2 year fixed (fee free) | 85% | £0 | 7.25% | 7.05% | -0.20% |
| 50+ Mortgage 5 year fixed | 85% | £995 | 6.60% | 6.40% | -0.20% |
| 50+ Mortgage 5 year fixed (fee free) | 85% | £0 | 6.75% | 6.55% | -0.20% |
| RIO Mortgage 2 year fixed | 75% | £995 | 6.85% | 6.80% | -0.05% |
| RIO Mortgage 2 year fixed (fee free) | 75% | £0 | 7.00% | 6.95% | -0.05% |
| RIO Mortgage 5 year fixed | 75% | £995 | 6.55% | 6.40% | -0.15% |
| RIO Mortgage 5 year fixed (fee free) | 75% | £0 | 6.70% | 6.55% | -0.15% |
| Professional Mortgage 2 year fixed | 80% | £1,495 | 6.70% | 6.50% | -0.20% |
| Professional Mortgage 5 year fixed | 80% | £1,495 | 6.50% | 6.40% | -0.10% |
| Professional Mortgage 2 year fixed | 90% | £1,495 | 6.75% | 6.55% | -0.20% |
| Professional Mortgage 5 year fixed | 90% | £1,495 | 6.55% | 6.45% | -0.10% |
Emma Graham, business development director at Hodge, said: “These rate reductions are the latest in just a series of improvements we’ve made at Hodge in recent months to support borrowers with affordability and other issues affecting the market right now.
“As the markets have continued to settle, we have implemented a number of changes to our products in response, which has further put us in a position to remain flexible in support of the needs of our intermediary partners, and the customers they work with.
“This latest reduction in rates comes hot off the heels of a previous reduction in rates across our 50+ range of mortgages in mid-October, and so we’re really pleased to be able to improve upon this offering just over a month on.
“We have worked hard over the past few months to increase the flexibility and improve the criteria on our products to ease the pressure on our brokers and their customers created by the current market conditions.”
“These latest rate reductions are yet another reflection of the continued work we are doing to support our intermediary partners in turn to carry on helping their clients in these moments that matter,” Emma added.
For more information about these products and the new rates, please visit: https://hodgebank.co.uk/intermediaries/product-rate-information/
