Hodge cuts RIO and 50+ mortgage rates

Its 50+ mortgage product, with LTVs of 50% or 60%, will see a drop of 0.30% across the board. While its RIO products with 50% LTV sees a rate drop of 0.20%.

50+ rates now start from 2.70% for a five-year fix at 50% LTV and 2.89% at 60% LTV.

RIO products include a two-year discount at 2.79% up to 60% LTV and a five-year fix at 2.90% up to 50% LTV.

Emma Graham, business development director at Hodge, said: “Hodge is constantly looking to help our intermediary partners in offering competitive and flexible products and this is our latest move to do just that.

“As a specialist lender in a highly competitive market-place we’re delighted to launch these lower rates across our later life propositions. These reductions in parallel with our common-sense approach to lending and our underwriter’s willingness to assess cases on their own merits means we can now support more of your customers with their lending needs.”