Hodge slashes rates again on 50+ and RIO mortgages to aid affordability

Hodge has announced another set of rate reductions across its 50+ and Retirement Interest Only (RIO) mortgage products, marking the second such adjustment in as many months.

Effective from 9am, Wednesday, November 22nd, Hodge is reducing rates by up to 0.20% on all of its 50+ mortgages.

This includes both 2-year and 5-year fixed products, with variations for different fee options. Similarly, the RIO product range will see rate reductions of up to 0.15%.

Additionally, Hodge’s professional mortgage range will also undergo rate cuts of up to 0.20%, demonstrating the lender’s proactive response to current market conditions and the needs of its customers.

Emma Graham, business development director at Hodge, said. “These rate reductions are part of a series of improvements we’ve implemented recently to support borrowers amid current market challenges.

“As market conditions stabilise, we are able to make further adjustments to our products, maintaining our flexibility to support our intermediary partners and their clients,” she said.

Graham added: “Following our rate cuts in mid-October, we are pleased to further enhance our offerings just a month later.

“We’ve been focused on easing pressures on brokers and customers, especially regarding affordability.

“These efforts include increasing loan-to-income ratios and reducing stress rates across our range.”

“These latest rate reductions reflect our ongoing commitment to support our intermediary partners, helping them assist their clients in crucial moments,” Graham concluded.