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Hodge cuts rates and Vernon BS strikes club deal

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  • 21/04/2021
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Hodge cuts rates and Vernon BS strikes club deal
Hodge has reduced rates on its holiday let and 50-plus ranges while boosting later life choice.

 

Rate cuts of 0.20 per cent have been applied to deals up to 75 per cent loan to value (LTV) on the lender’s 50-plus suite and across the holiday let range.

A two-year discounted rate up to 75 per cent LTV has been added to Hodge’s later life selection. Discounted rates of 3.09 per cent and 3.20 per cent are available up to 60 per cent LTV and at 75 per cent LTV rates are priced at 3.19 per cent and 3.30 per cent.

Hodge recently increased its LTV from 70 per cent to 75 per cent across its later life range and increased its maximum loan size from £1m to £1.5m.

Emma Graham (pictured), business development director at Hodge, said: “The first quarter of 2021 has been a period of resetting and reassessing for our team. We have taken a long hard look at the market, listened to what brokers and their customers are asking for and have amended our proposition accordingly.”

 

Vernon BS

Vernon Building Society has linked up with The Money Group’s new mortgage club, TMG Club, to give members access to its full range of mortgage products.

Head of mortgage distribution at Vernon Building Society Brendan Crowshaw said: “TMG Club is an exciting addition to the intermediary mortgage market and it’s obvious the leadership team are passionate about bringing positive change to brokers. We can’t wait to help its members find specialist and mainstream solutions for their clients.”

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