Hodge reduces rates across entire residential range by up to 0.40%

Hodge has reduced rates across its entire range of holiday let, 50+, retirement interest-only and professional mortgage products by up to 0.40%.

This is the third time the specialist lender has reduced its rates since re-entering the market after a short pause in July, and since offering its full product range since November.

Its 50+ mortgage rates and retirement interest-only products have reduced by 0.25%. 50+ two-year fixed rates now start from 5.65% and five-year fixes from 5.70%. RIO mortgages have reduced to 5.85% fixed for two years and 5.90% fixed for five years.

Holiday let products have seen reductions of 0.40% and now start at 6.15%, while professional mortgages have reduced by up to 0.30%, now starting from 6.20%.

In addition, the lender has also reduced rates across its retention ranges to support its existing customers by up to 0.60%.

Emma Graham, business development director at Hodge, said: “What a great start to 2023, following what turned out to be a bit of a roller-coaster year for mortgages in 2022. We are absolutely thrilled to be starting the year on such a positive note and bringing even greater rate reductions across all of our mortgage products for the benefit of our partners and their clients.

“With reduced rates already bringing much-needed stability back to the mortgage and property market towards the end of last year, it’s incredibly heartening to be announcing yet further reductions across our entire portfolio of mortgage products as we head into the first quarter of 2023.

“With both repayment and interest only options on our 50+ and holiday let mortgages, and up to 90% LTV available on our professional products too, this is undoubtedly more welcome news at a time when many people need all the financial support available to them.”