Specialist lender Hodge has reduced rates for its retirement interest-only, holiday let and 50 plus mortgages and cut retention rates.
On the 50 plus mortgage side, two and five-year fixed rates between 60 and 85 per cent loan to value (LTV) have gone down.
Its two-year fixed 50 plus mortgage with £995 fee at 60 per cent LTV has gone down from 5.9 per cent to 5.65 per cent.
Its fee-free version at the same LTV has fallen from 6.05 per cent to 5.8 per cent.
RIO mortgages between 60 and 85 per cent LTV have decreased, including its two-year fixed rate at 60 per cent LTV with £995 fee has gone down from 6.1 per cent to 5.85 per cent.
Its fee-free version will fall from 6.25 per cent to six per cent.
Holiday let deals have also been reduced, between 60 and 75 per cent LTV.
Its two-year fixed rate at 60 per cent LTV with £995 fee has gone down from 6.55 per cent to 6.15 per cent.
Its fee-free version from 6.5 per cent to 6.35 per cent.
Retention rates has fallen by up to 0.4 per cent for existing customers.
Emma Graham, business development director at Hodge, said: “What a start to 2023 we’ve had so far with three rate drops across our products.
“Further stability in the market, as well as in the wider economy means we can pass these rate reductions on, helping our intermediary partners get more great deals for their specialist customers.”
He added: “Reducing the retention rates on our products is also a great way that we feel we can reward both our loyal broker and IFA partners, and their clients who choose to stay with us.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
