The lender has reduced rates by up to 0.25% for its Resi, Resi Retire, retirement interest-only (RIO) and holiday let mortgages.
Hodge’s RIO rates have fallen by as much as 0.25%, while similar cuts have been made to its Resi Retire range, and other rates have been lowered by an average of 0.15%.
This comes after the lender increased the maximum loan to value (LTV) on its Resi and Resi Retire ranges.
Emma Graham, business development director for Hodge, explained: “These rate reductions will help brokers provide better value to their customers looking for a specialist mortgage solution.
“Lending from the age of 21, both up to and into retirement, our manual underwriters adopt a flexible approach to underwriting, reviewing each case individually, adding a human touch and putting the customer at the heart of the decision-making process.”
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She added: “We want to support customers with complex income and unique financial stories to not only get on the property ladder, but to stay on it and remain in their homes when they reach retirement.”
Clydesdale launches products
Clydesdale Bank has added mortgages to its offering, available from this week.
This includes the addition of two- and five-year rates to its new business core residential range at 85% LTV, available for part and part borrowing, with rates starting at 4.48%.
Clydesdale Bank has also launched part and part options to its residential large loan range, including product transfer. This is available at 85% LTV for loans larger than £1m, on two- and five-year terms.
The lender has also added two- and five-year fixes at 85% LTV to its product transfer-only offering, with pricing starting at 4.33%.
This week, the bank announced changes to its interest-only lending policy.
