Specialist lender Hodge is relaunching its later life lending proposition after adapting to restrictions around the coronavirus pandemic with a reduced version.
Hodge can now accept applications for new purchases of up to 60 per cent loan to value (LTV) and has lifted the restriction it imposed on 30 March to only accept like for like remortgages.
Capital raising will be considered across its entire later life product range up to 60 per cent LTV.
Purchase and remortgage transactions will be based on automated valuations, with these changes taking place with immediate effect.
All of Hodge’s later life products include its early repayment promise which enables customers to sell their property without incurring early repayment charges. The lender said this feature would support those who wanted to remortgage now, but move house at a later date.
Emma Graham (pictured), business development director at Hodge, said: “These are difficult times for everyone and we’re pleased to be able to lift some of the temporary restrictions across our later-life products. This will allow us to help more customers secure finance at this challenging time.
“Over the coming weeks and months, we will continue to review our position in the market with a view to make additional enhancements to our products and criteria in the near future.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
