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More than half of our professional mortgage customers are women – Hodge

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  • 02/08/2023
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More than half of our professional mortgage customers are women – Hodge
Around 58 per cent of Hodge’s professional mortgage customers are women, in the first 12 months since the product launched, figures have shown.

The firm said that approximately a 26 per cent of applications were from Greater London and 21 per cent hailed from the South West.

The lender launched its professional mortgage product up to 90 per cent loan to value (LTV) last year.

The product is available to professions such as barristers, architects, doctors, dentists and others, providing a solution for those with complex incomes.

The lender accepts multiple income streams, such as retained profits and one-year accounts for the self-employed, 100 per cent of validated incomes, and also offers six times loan to income.

It also allows income from a non-professional joint applicant.

Emma Graham (pictured), business development director at Hodge, said that a year since the launch of the professional mortgage it was “pleased to see how well it’s been received by our brokers and their clients”.

She said that the six LTI feature was particularly popular and allows those who were “just starting out in their career to get a foot on the property ladder”.

“Whether customers are newly qualified or an experienced professional with several streams of income, Hodge’s team of experienced underwriters work with brokers using a personal, common-sense, human approach,” Graham added.

She continued that the fact most customers are from London “might not be that surprising given the high concentration of professionals based there”, but seeing the complex income streams applicants have has been “enlightening”.

“Similarly, it’s been interesting to see the gender split and understanding who this product works for. When we designed our professional mortgage, we knew it had to stand out from the crowd.”

 

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