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.”