Complex Buy To Let
Hodge adds deals to specialist residential investment finance range
Hodge has brought out two short-term fixed rates on its specialist residential investment finance product, a five-year fixed deal and a longer-term variable rate option.
The lender said that broker and client feedback showed there was heightened demand for shorter-term fixed deals.
The two short-term fixed deals for its SRI product include a two-year fixed rate at 5.85 per cent, a three-year fixed rate at 5.99 per cent and a variable rate option at 3.25 per cent.
Hodge said that the SRI range is designed to help landlords and investors with portfolios of four or more properties, which covers houses, flats, multi-unit blocks (MUB), houses in multiple occupation (HMO) and semi-commercial properties.
The lender’s residential investment experts work with the landlords to “deliver structured bespoke loans that work best across varied property portfolios”.
Gareth Davies, head of business development for commercial lending at Hodge, said: “It’s been a tumultuous time in the commercial and residential property markets, so we’ve been talking with our clients and brokers about what they are currently looking for in a residential investment product and how we can best support them.
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“The overwhelming feedback was that a short-term fixed product was needed – so that’s what we have worked to quickly develop, to be offered alongside the 5-year fixed rate offering.
“We hope the introduction of the new SRI rate options will provide brokers and clients with additional flexibility to support them in achieving their business goals.”