Hodge cuts rates by up to 0.40%

Hodge has reduced rates across its retirement interest-only, holiday let and 50+ mortgages by up to 0.40%.

Across its 50+ range, two-year fixed rates now start from 5.65% at 60% LTV, 5.85% at 75% LTV, and 6.05% at 85% LTV. Five-year fixes now start at 5.70%, 5.90% and 6.10% respectively.

For RIO mortgages, two-year fixed rates have reduced to 5.85% at 60% LTV and 6.05% at 75% LTV, with five-year equivalents now starting from 5.90% and 6.10%.

Holiday let products start from 6.15% at 60% LTV and 6.35% at 75% LTV fixed for two years, with five-year fixes 5bps higher.

Fee-free options are also available across the ranges.

In addition, Hodge has cut rates on its retention range by up to 0.40% to support existing customers, following a similar reduction on its professional mortgages last month.

Emma Graham, business development director at Hodge, said: “What a start to 2023 we’ve had so far with three rate drops across our products.

“Further stability in the market, as well as in the wider economy means we can pass these rate reductions on, helping our intermediary partners get more great deals for their specialist customers.

“Reducing the retention rates on our products is also a great way that we feel we can reward both our loyal broker and IFA partners, and their clients who choose to stay with us.”