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For the second time this month, specialist lender Hodge is reducing rates across a range of its 50+ and Retirement Interest Only (RIO) Mortgages – with some rates being cut by 0.33%.
These reductions, which affect several of its 2-year and 5-year fixed rate products, will be available to new and existing customers as of this Tuesday (July 30th):
| Product | Max LTV | Product Fee | Current rate | Proposed rate | Difference |
| 50+ Mortgage 2 year fixed | 75% | £1,995 | 6.05% | 5.95% | -0.10% |
| 50+ Mortgage 2 year fixed | 75% | £1,495 | 6.15% | 6.05% | -0.10% |
| 50+ Mortgage 2 year fixed | 75% | £995 | 6.35% | 6.20% | -0.15% |
| 50+ Mortgage 2 year fixed (fee free) | 75% | £0 | 6.70% | 6.37% | -0.33% |
| 50+ Mortgage 2 year fixed | 85% | £995 | 6.85% | 6.65% | -0.20% |
| 50+ Mortgage 2 year fixed (fee free) | 85% | £0 | 7.00% | 6.85% | -0.15% |
| 50+ Mortgage 5 year fixed | 75% | £1,995 | 5.65% | ||
| 50+ Mortgage 5 year fixed | 75% | £1,495 | 5.75% | ||
| 50+ Mortgage 5 year fixed | 75% | £995 | 5.95% | 5.80% | -0.15% |
| 50+ Mortgage 5 year fixed (fee free) | 75% | £0 | 6.10% | ||
| 50+ Mortgage 5 year fixed | 85% | £995 | 6.35% | ||
| 50+ Mortgage 5 year fixed (fee free) | 85% | £0 | 6.50% | ||
| RIO Mortgage 2 year fixed | 75% | £995 | 6.75% | 6.55% | -0.20% |
| RIO Mortgage 2 year fixed (fee free) | 75% | £0 | 6.90% | 6.70% | -0.20% |
| RIO Mortgage 5 year fixed | 75% | £995 | 5.99% | 5.88% | -0.11% |
| RIO Mortgage 5 year fixed (fee free) | 75% | £0 | 6.14% | ||
| HBTL Mortgage 2 year fixed | 75% | £995 | 7.00% | ||
| HBTL Mortgage 2 year fixed (fee free) | 75% | £0 | 7.25% | ||
| Professional Mortgage 2 year fixed | 80% | £1,495 | 6.50% | ||
| Professional Mortgage 2 year fixed | 90% | £1,495 | 6.65% | ||
| Professional Mortgage 5 year fixed | 80% | £1,495 | 6.40% | ||
| Professional Mortgage 5 year fixed | 90% | £1,495 | 6.55% |
Emma Graham, business development director at Hodge, said: “We are thrilled to reduce rates further across many of our RIO and 50+ mortgage products. This rate reduction is another sign of stabilisation of the market, enabling us to implement changes more frequently.
“By making two rate reductions in less than a month, we are hoping this will instil even more confidence in the market and encourage our intermediary partners to access Hodge’s flexible, market-leading mortgage solutions.”
Emma added: “We pride ourselves on our personal service and ‘open door’ policy, and believe that these rate reductions demonstrate our commitment to maintaining the best customer service and products available.”
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