Director highlights efforts to improve access for young borrowers
Hodge, a specialist lender, has announced further reductions in its mortgage rates, cutting rates by up to 0.30% across its 50+, Retirement Interest Only (RIO), and Hodge Resi product ranges.
The new rates, effective from September 16, follow an earlier rate reduction introduced in August for Hodge’s Hodge Resi proposition.
The updated rates will apply to both new business and existing customers looking to retain their mortgages. The changes reflect an average reduction of 25 basis points (bps) across these product ranges. Notably, the rate adjustments aim to enhance accessibility and affordability for borrowers.
The revised mortgage rates are as follows:
|
Product |
Max LTV |
Product Fee |
Current Rate |
New rate |
Difference |
Current product code |
New product code |
|---|---|---|---|---|---|---|---|
|
50+ Mortgage 2 year fixed |
75% |
£1,995 |
5.95% |
5.65% |
-0.30% |
52211 |
52262 |
|
50+ Mortgage 2 year fixed |
75% |
£1,495 |
6.05% |
5.75% |
-0.30% |
52212 |
52263 |
|
50+ Mortgage 2 year fixed |
75% |
£995 |
6.20% |
5.90% |
-0.30% |
52213 |
52264 |
|
50+ Mortgage 2 year fixed (fee free) |
75% |
£0 |
6.37% |
6.05% |
-0.32% |
52214 |
52265 |
|
50+ Mortgage 2 year fixed |
85% |
£995 |
6.65% |
6.35% |
-0.30% |
52215 |
52266 |
|
50+ Mortgage 2 year fixed (fee free) |
85% |
£0 |
6.85% |
6.55% |
-0.30% |
52216 |
52267 |
|
50+ Mortgage 5 year fixed |
60% |
£995 |
5.32% |
5.30% |
-0.02% |
52258 |
52268 |
|
50+ Mortgage 5 year fixed |
75% |
£1,995 |
5.65% |
5.35% |
-0.30% |
52197 |
52269 |
|
50+ Mortgage 5 year fixed |
75% |
£1,495 |
5.75% |
5.45% |
-0.30% |
52196 |
52270 |
|
50+ Mortgage 5 year fixed |
75% |
£995 |
5.80% |
5.60% |
-0.20% |
52217 |
52271 |
|
50+ Mortgage 5 year fixed (fee free) |
75% |
£0 |
6.10% |
5.75% |
-0.35% |
52193 |
52272 |
|
50+ Mortgage 5 year fixed |
85% |
£995 |
6.35% |
6.05% |
-0.30% |
52145 |
52273 |
|
50+ Mortgage 5 year fixed (fee free) |
85% |
£0 |
6.50% |
6.25% |
-0.25% |
52146 |
52274 |
|
RIO Mortgage 2 year fixed |
75% |
£995 |
6.55% |
6.20% |
-0.35% |
52218 |
52275 |
|
RIO Mortgage 2 year fixed (fee free) |
75% |
£0 |
6.70% |
6.35% |
-0.35% |
52219 |
52276 |
|
RIO Mortgage 5 year fixed |
60% |
£995 |
5.57% |
5.52% |
-0.05% |
52259 |
52277 |
|
RIO Mortgage 5 year fixed |
75% |
£995 |
5.88% |
5.65% |
-0.23% |
52220 |
52278 |
|
RIO Mortgage 5 year fixed (fee free) |
75% |
£0 |
6.14% |
5.80% |
-0.34% |
52199 |
52279 |
|
HBTL Mortgage 2 year fixed |
75% |
£995 |
7.00% |
|
52103 |
||
|
HBTL Mortgage 2 year fixed (fee free) |
75% |
£0 |
7.25% |
|
52104 |
||
|
Hodge Resi 2 year fixed |
75% |
£995 |
6.35% |
6.15% |
-0.20% |
52242 |
52280 |
|
Hodge Resi 2 year fixed (fee free) |
75% |
£0 |
6.45% |
6.25% |
-0.20% |
52243 |
52281 |
|
Hodge Resi 2 year fixed |
90% |
£995 |
6.60% |
6.40% |
-0.20% |
52246 |
52282 |
|
Hodge Resi 2 year fixed (fee free) |
90% |
£0 |
6.70% |
6.50% |
-0.20% |
52247 |
52283 |
|
Hodge Resi 5 year fixed |
75% |
£995 |
5.95% |
5.75% |
-0.20% |
52244 |
52284 |
|
Hodge Resi 5 year fixed (fee free) |
75% |
£0 |
6.05% |
5.85% |
-0.20% |
52245 |
52285 |
|
Hodge Resi 5 year fixed |
90% |
£995 |
6.20% |
6.00% |
-0.20% |
52248 |
52286 |
|
Hodge Resi 5 year fixed (fee free) |
90% |
£0 |
6.30% |
6.10% |
-0.20% |
52249 |
52287 |
Source: Hodge
“We’re pleased to be announcing further insight-led changes across our range of mortgage products,” said Emma Graham, Hodge’s business development director. “Hodge’s recent introduction of new products and reduced rates reflects our deepening commitment to developing customer-centric mortgage solutions and serving underserved areas of the market.”
The reductions are part of Hodge’s ongoing effort to enhance the affordability of its mortgage offerings, particularly for younger borrowers and those with complex financial situations.
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