Up to 75 per cent loan to value (LTV), the maximum loan size has gone up from £1.5m to £2m, while up to 90 per cent LTV has risen from £750,000 to £800,000.
At 85 per cent LTV, the maximum loan size remains at £1m.
The lender has also increased the LTV limit for debt consolidation on professional, 50+ and RIO mortgages.
This has now gone up to 75 per cent LTV on an interest-only basis, previously 60 per cent, or 85 per cent LTV on a repayment basis, also up from 60 per cent LTV.
Emma Graham, business development director at Hodge, said the lender understood the importance of supporting borrowers with complex income due to the challenges they face.
Graham added: “We see that these challenges are facing all areas of the market, including high-population and high-net-worth areas such as London and other major UK cities, where larger loan amounts and greater financial flexibility are an ever-increasing requirement for borrowers.
“Over the past three years, we’ve seen an increase in cases where debt consolidation is a loan purpose, particularly in the later life space. The cost-of-living crisis and rising interest rates make unsecured debt less palatable, leading customers to consolidate onto a lower rate.”
She said: “We’re working closely with partner brokers operating within these areas, actioning feedback in order to improve affordability and the borrowing options available to customers looking to consolidate debt or borrow more.
“These latest enhancements to our later life and professional product portfolio are also further demonstration of Hodge’s commitment to continually improving the markets we operate in as a means of supporting our brokers and their customers in the moments that matter.”
