Hodge cuts 50+ and RIO rates by up to 0.26%

Hodge is reducing rates across a selection of its 50+ and retirement interest-only mortgages by up to 0.26%.

The specialist lender is reducing the interest on a range of its two and five-year fixed rate products, available to new and existing customers.

The largest reductions are to five-year fixed rate retirement interest-only products at 75% LTV, now available at 5.99% with a £995 fee and 6.14% fee-free.

In the lender's 50+ range, two-year fixed rates at 75% LTV have reduced by 20bps to 6.35% with a £995 fee, 6.15% with a £1,495 fee, and 6.05% with a £1,995 fee.

Five-year fixed rate 50+ products have reduced by 10bps and now start from 5.65% with a £1,995 fee, 5.75% with a £1,495 fee, 5.95% with a £995 fee, and 6.10% fee-free.

Emma Graham, business development manager at Hodge, said: “We’ve implemented these changes to give our brokers and their customers greater choice as the market settles and rates continue to fall.

“We’re hoping these latest rate reductions will help our intermediary partners serve customers requiring specialist mortgage solutions, with competitive rates on our market-leading 50+ and RIO mortgages.”