Hodge announces further rate cuts of up to 0.20%

Hodge is making further reductions across its range of 50+ and RIO mortgage products.

Available from Wednesday 22nd November, rates across all of its 50+ mortgages are dropping by 0.20% and its retirement interest-only (RIO) rates are reducing by up to 0.15%.

Rates on its professional mortgage product range are also set to decrease by up to 0.20%.

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 been able to continue implementing a number of changes to our products in response, which put us in a position to remain flexible to support 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+ mortgages in mid-October, and so we’re really pleased to be able to improve upon this offering just a month later.

“We have worked hard in the past few months to help ease the pressure imposed on our brokers and their customers by the current market and difficulties around affordability, which we know is restrictive for many at the moment. This has seen us increase LTI and reduce stress rates across our range.

“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 those moments that matter."