Hodge is rebranding its 50+ mortgage products to Resi Retire removing the need for borrowers to be aged over 50 to access them.
This new launch comes hot off the heels of Hodge rebranding its professional mortgage to Hodge Resi – again making its products more accessible for those aged 21 and over with complex income streams.
To further help its intermediary partners and their customers, Hodge has introduced further flexibility to its products that look to maximise affordability from aged 21 up to and into retirement, now determined by the customer’s goals rather than their age.
One of the latest changes and enhancements includes the specialist lender adding a host of 60% LTV products, reflecting the ever-changing needs of borrowers in retirement.
On its Hodge Resi products, it is also reducing selected rates and introducing higher fee and lower rate products to provide more options for intermediaries dealing with higher value cases.
As of Wednesday, 16th October, the following products will be available at the following rates:
| Product | Max LTV | Product Fee | Current Rate | New rate | Difference |
| Hodge Resi Retire (50+) 2 year fixed | 60% | £995 | 5.68% | 5.68% | |
| Hodge Resi Retire (50+) 2 year fixed | 75% | £1,995 | 5.65% | ||
| Hodge Resi Retire (50+) 2 year fixed | 75% | £995 | 5.90% | ||
| Hodge Resi Retire (50+) 2 year fixed | 85% | £995 | 6.35% | ||
| Hodge Resi Retire (50+) 5 year fixed | 60% | £995 | 5.30% | ||
| Hodge Resi Retire (50+) 5 year fixed | 75% | £1,995 | 5.35% | ||
| Hodge Resi Retire (50+) 5 year fixed | 75% | £995 | 5.60% | ||
| Hodge Resi Retire (50+) 5 year fixed | 85% | £995 | 6.05% | ||
| RIO Mortgage 2 year fixed | 75% | £995 | 6.20% | ||
| RIO Mortgage 5 year fixed | 60% | £995 | 5.52% | ||
| RIO Mortgage 5 year fixed | 75% | £995 | 5.65% | ||
| HBTL Mortgage 2 year fixed | 75% | £995 | 7.00% | ||
| HBTL Mortgage 2 year fixed (fee free) | 75% | £0 | 7.25% | ||
| Hodge Resi 2 year fixed | 60% | £1,995 | 5.62% | 5.62% | |
| Hodge Resi 2 year fixed | 60% | £995 | 5.66% | 5.66% | |
| Hodge Resi 2 year fixed | 75% | £995 | 6.15% | 5.79% | -0.36% |
| Hodge Resi 2 year fixed | 90% | £995 | 6.40% | 6.40% | 0.00% |
| Hodge Resi 2 year fixed (fee free) | 90% | £0 | 6.50% | 6.50% | 0.00% |
| Hodge Resi 5 year fixed | 60% | £1,995 | 5.38% | 5.38% | |
| Hodge Resi 5 year fixed | 60% | £995 | 5.42% | 5.42% | |
| Hodge Resi 5 year fixed | 75% | £995 | 5.75% | 5.59% | -0.16% |
| Hodge Resi 5 year fixed | 90% | £995 | 6.00% | ||
| Hodge Resi 5 year fixed (fee free) | 90% | £0 | 6.10% |
Emma Graham, business development director at Hodge, said of these latest product changes: “As always at Hodge, it’s 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.
“We are excited to see how the Resi Retire products will be welcomed by the market and are looking to chat brokers, IFAs and networks about how they can help customers get the outcomes they need from their mortgages.”
For more information on Hodge’s full range of mortgage products visit: hodgebank.co.uk/mortgages/
