It implements rate cuts of up to 80bps
In a strategic move to commence 2024, specialist lender Hodge has implemented rate cuts across its entire mortgage range, with retention products also following suit.
The lender dropped all rates by 70 basis points (bps) for its 50-plus category, while two-year fixed rates for retirement interest-only (RIO) mortgages saw a similar reduction. Additionally, five-year fixed rates for RIO mortgages received an average cut of 40bps.
Professional mortgage rates were also reduced by 60bps, while holiday let rates were slashed by 80bps.
More detailed information on the products and its updated rates can be accessed online on the lender’s website.
“We’ve been working diligently to enhance our products and criteria to best support your customers, and it seems fitting to start a new year with some good news,” said Emma Graham (pictured), business development director at Hodge Bank.
“This reduction in rates comes hot off the heels of an increase in our procuration fees, where we increased broker fees for mortgage product transfers from 0.25% to 0.30% in recognition of the intermediary partners we work with.
“These latest rate decreases are yet another reflection of our desire to help you help your customers in the moments that matter.”
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