Hodge reduces 50+ mortgage products by up to 0.30%

Rates have reduced by 20-30bps across the range.

Related topics:  Later Life,  Mortgages
Rozi Jones | Editor, Barcadia Media Limited
10th October 2023
blocks with percentage signs going down
"Thanks to the base rate announcement last month and the markets settling as a result, we are really pleased that we can implement these rate reductions across our 50+ mortgage product range."

Hodge is reducing the rates across its range of 50+ mortgage products by up to 0.30%.

At 75% LTV, two-year fixed rates now start from 6.60% with a £1,995 fee, 6.70% with a £1,495 fee, 6.90% with a £995 fee, and 7.05% fee-free.

Five-year fixes at 75% LTV have reduced to 6.20% with a £1,995 fee, 6.30% with a £1,495 fee, 6.40% with a £995 fee, and 6.55% fee-free.

At 85% LTV, two-year fixes have reduced to 7.10% with a £995 fee and 7.25% fee-free, while five-year fixes now start at 6.60% with a £995 fee and 6.75% fee-free.

The new rates are available from tomorrow, Wednesday 11th October.

Emma Graham, business development director at Hodge, said: “Thanks to the base rate announcement last month and the markets settling as a result, we are really pleased that we can implement these rate reductions across our 50+ mortgage product range.

“These rate reductions come hot off the heels of criteria enhancements for our later life products too, including reducing the stress test for pound for pound remortgages, increasing income multiples on purchase and remortgage, and a reduction in living costs in light of the changes to the energy price cap.

“These criteria changes have all been made to help brokers and their customers manage affordability, which we know is an issue for many at the moment.

“In adding to that with these latest rate reductions, we really feel that we are doing all we can to support our intermediary partners navigate these tricky economic times and help their clients in those moments that matter.”

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