It is the third rate reduction since the product launched last December
Specialist lender Hodge has announced further reductions on rates across its professional mortgage range, effective immediately.
This is the third time the lender has dropped rates on its professional mortgage products, which were launched in December.
The latest rate reduction sees Hodge’s two-year fixes reduced by 0.30% and its five-year fixes cut by as much as 0.65% at loan-to-values (LTVs) up to 80% and 90%.
The lender’s new professional mortgage rates are:
- Two-year fixed at up to 80% LTV with a £995 fee - rate reduced by 0.30% to 5.50%
- Two-year fixed at up to 80% LTV with no fee - rate reduced by 0.30% to 5.65%
- Five-year fixed at up to 80% LTV with a £995 fee - rate reduced by 0.55% to 5.70%
- Five-year fixed at up to 80% LTV with no fee - rate reduced by 0.55% to 5.85%
- Two-year fixed at up to 90% LTV with a £995 fee - rate reduced by 0.30% to 5.55%
- Two-year fixed at up to 90% LTV with no fee - rate reduced by 0.30% to 5.70%
- Five-year fixed at up to 90% LTV with a £995 fee - rate reduced by 0.65% to 5.75%
- Five-year fixed at up to 90% LTV with no fee - rate reduced by 0.65% to 5.90%
The rate cuts also follow the introduction of an interest-only option on Hodge’s professional mortgage range announced in March to offer those with complex incomes, professional traineeships, or in self-employment greater flexibility when buying a property.
“It’s an absolute delight to be able to cut rates further on a product which has been so warmly welcomed by our highly valued customers, and continues to help us flex and grow in the way we are able to support them regardless of how their income may be structured,” Emma Graham (pictured), business development director at Hodge, said.
“We’ve continually made changes to our professional mortgage range since it first launched in response to the positive feedback we’ve received, and it’s been wonderfully rewarding to see this new form of lending for Hodge fit into the market so well, in what is a relatively short space of time.
“We’re really thrilled, therefore, to be announcing this latest reduction in rates as one of the many ways we continue working hard to support professionals who might otherwise find themselves excluded by high street lenders not willing to properly assess or manage the complex income streams associated with the kinds of jobs they do.”
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