The changes include the removal of the maximum number of storeys, which was previously capped at six. It has also removed the maximum acreage limit, which was previously set at 10 acres.
Emma Graham (pictured), business development director at Hodge, said: “We’re continually reviewing our proposition to ensure it reflects the realities of today’s property market and supports brokers in meeting a wider range of customer needs.”
The lender increased the maximum permitted flying freehold exposure to 25%, up from 15%.
Further to these changes, Hodge increased lending to up to 95% loan to value (LTV) on ex-local authority houses, up from 90%.
Additionally, lending is up to 95% LTV on flats, which includes ex-local authority flats. New-build flats stay capped at 85% LTV.
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Graham added: “By including flats in taller buildings and properties with larger acreages, we’ve increased the number of customers who can access our products.”
The updates apply across both the Hodge Resi and Hodge Resi Retire mortgage ranges, for applicants aged 18-95.
In March, the lender increased its holiday let LTV to 80%.
