Hodge cuts 50+, RIO and Hodge Resi mortgage rates

Hodge has announced further rate reductions of up to 0.30% across its 50+, retirement interest-only (RIO) and Hodge Resi mortgage ranges.

From launching its new Hodge Resi proposition with reduced rates in August, the specialist lender is following up with further reductions across its entire suite of mortgages.

This includes an average reduction of 25bps to rates across its 50+, RIO and Hodge Resi products both for new business and retention purposes.

50+ two-year fixed rates now start from 5.65% while five-year rates start from 5.30%. RIO two-year fixes are available from 6.20% and five-year fixes from 5.52%, while Hodge Resi two and five-year fixes now start from 6.15% and 5.75% respectively.

The latest reductions come after Hodge launched its ‘Hodge Resi’ product last month, to help provide more inclusive borrowing options for customers with complex incomes aged 21 up to their chosen retirement age.

This was followed by the introduction of two new five-year fixed rate products to its 50+ and RIO mortgage ranges a week later.

Emma Graham, business development director at Hodge, said: “We’re pleased to be announcing further insight-led changes across our range of mortgage products. 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 reduction in rates will make our offering accessible to more borrowers from aged 21, helping brokers and customers."