Hodge has resumed lending up to 70 per cent loan to value (LTV) and made changes to its criteria, effective from 9 June.
In April, the lender began to accept new applications up to 60 per cent LTV after limiting its lending to like-for-like remortgages the month before.
Changes to its criteria include the removal of the loan to income restriction of 4.5 x income for like-for-like remortgages, this has been brought back up to 6 x income. The lender has also reintroduced the consideration of earned income up to the age of 80 when assessing affordability.
Emma Graham (pictured), business development director at Hodge, said: “These changes will start to bring us back to where we were before the outbreak of Covid-19 and will allow us to help more customers at this very challenging time.
“Flexibility has never been more important, and we would like to remind our intermediaries that we’ll continue to work with them to accommodate exceptions where ever possible, so please do get in touch with your dedicated business development manager or our lending support desk.”
“As a responsible lender, we will continue to monitor the situation and improve our criteria where and when possible,” she added.
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
