It makes changes in response to intermediary feedback
Specialist lender Hodge has announced that it is implementing changes to its professional mortgage criteria, one of which is the expansion of eligible occupations to accommodate mortgage brokers, independent financial advisers (IFAs), investment bankers, teachers, nurses, and IT consultants, among others.
Another key adjustment involves extending the maximum age criteria, facilitating lending to both seasoned professionals and their younger counterparts. The new age limits will be set at 75 at the point of application and extended to 80 at the conclusion of the mortgage term.
“We have made these criteria changes again in response to what our intermediary partners are telling us and what their customers need in a professional mortgage product,” said Emma Graham (pictured), business development director at Hodge. “By making these criteria enhancements, we can help provide more complex income related mortgage solutions to a wider group of customers who were previously underserved, while also offering the same flexibility and personal customer service Hodge is known for.
“The changes in our age criteria also reflect our further understanding of this market. We know professionals often have careers that go on until much later in life, so their incomes may be even more complex and include income from pensions and investments, for example. We wanted to be able to support professionals at every stage of their career and believe we can now do so thanks to these changes.
“The number of criteria enhancements we have made across all of our products in recent months demonstrates how important broker feedback is to us. We want to listen, learn, and provide what they need, and we hope these changes to our professional mortgage product will help many of our intermediary partners and their customers.”
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, X (formerly Twitter), and LinkedIn.
