On its residential products, the lender will pay a proc fee of 0.55%, up from 0.45%. This brings its Hodge Resi, Hodge Resi Retire, retirement interest-only (RIO) and Holiday Buy-to-Let ranges into line.
This follows the bank’s decision to increase retention proc fees to 0.3% last year.
Additionally, the lender has lowered select product rates by as much as 0.27%, affecting its Hodge Resi, the Hodge Resi Retire, and Holiday Buy-to-Let products.
Emma Graham (pictured), business development director at Hodge, said: “These updates reflect our ongoing commitment to you, our intermediary partners. By increasing procuration fees and aligning our fee schedule, we’re recognising the complexity found in all customer types, rewarding brokers equally across our product range.
“The enhancements to our products and processes are an important part of this strategy, as we strive to make our proposition accessible to a broader range of customers.”
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Recently, the lender has improved its products with the expansion of criteria for foreign nationals, increased loan-to-income (LTI) ratios, and removing the minimum age of 50 on certain products.
The lender has also introduced automated valuation models (AVMs) for select cases, which it said was having a positive impact on its speed to offer time.
