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Hodge slashes new business and retention rates

  • 03/01/2024
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Hodge slashes new business and retention rates
Hodge has lowered new business rates across its entire range by up to 0.8 per cent, alongside a cut for its retention rates.

It is the latest lender to cut rates, with companies including HSBC, LendInvest, Bluestone Mortgages, Gen H, Halifax and Leeds Building Society.

The changes will come into force from 9am on 4 January.

In its new business range, the lender will be reducing all 50-plus rates by 0.7 per cent, along with retirement interest-only (RIO) two-year fixed rates.

Five-year fixed RIO rates will fall by up to 0.4 per cent and professional mortgage rates will go down by around 0.6 per cent.

Holiday let rates will decrease by around 0.8 per cent, the largest reduction.

In a broker note, the firm said of the new business and retention rate changes: “We’ve been working diligently to enhance our products and criteria to support you.

“Starting 2024 with good news for you and your clients, helping customers in the moments that matter.”

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