Hodge cuts 50+ and RIO mortgage rates by up to 0.33%

Hodge is reducing rates across a range of its 50+ and retirement interest-only (RIO) mortgages for the second time this month – with some rates being cut by 0.33%.

The largest reduction is to a 50+ two-year fixed rate at 75% LTV, down to 6.37% with no fee. Other 50+ two and five-year fixed rates in the range have been lowered by between 10-20bps.

In Hodge's RIO range, selected two-year fixed rates have reduced by 0.20%, now starting from 6.55% at 75% LTV with a £995 fee or 6.70% fee-free.

Emma Graham, business development director at Hodge, said: “We are thrilled to reduce rates further across many of our RIO and 50+ mortgage products. This rate reduction is another sign of stabilisation of the market, enabling us to implement changes more frequently.

“By making two rate reductions in less than a month, we are hoping this will instil even more confidence in the market and encourage our intermediary partners to access Hodge’s flexible, market-leading mortgage solutions.

“We pride ourselves on our personal service and ‘open door’ policy, and believe that these rate reductions demonstrate our commitment to maintaining the best customer service and products available.”