For the second time this month, specialist lender Hodge is reducing rates across a range of its 50+ and Retirement Interest Only (RIO) Mortgages – with some rates being cut by 0.33%.
These reductions, which affect several of its 2-year and 5-year fixed rate products, will be available to new and existing customers as of today, Tuesday 30th July.
In its 50+ Mortgage range, a 2 year fixed at 75% loan-to-value (LTV) with £1,995 has been reduced from 6.05% to 5.95%.
In addition, a 2-year fixed at 75% LTV with £1,495 fee has been reduced from 6.15% to 6.05%, and a 2-year fixed at 75% LTV with zero fee has been reduced from 6.70% to 6.37%.
A 5-year fixed at 75% LTV with £995 fee in the same range has also seen a decrease from 5.95% to 5.80%.
As part of its RIO Mortgage range, a 2-year fixed up to 75% LTV with £995 fee has been reduced from 6.75% to 6.55% and a 2 year fixed at 75% LTV with zero fee has decreased from 6.90% to 6.70%.
Lastly, a RIO 5-year fixed at 75% LTV with £995 fee has been reduced from 5.99% to 5.88%.
Emma Graham (pictured), business development director at Hodge, said: “We are thrilled to reduce rates further across many of our RIO and 50+ mortgage products. This rate reduction is another sign of stabilisation of the market, enabling us to implement changes more frequently.
“By making two rate reductions in less than a month, we are hoping this will instil even more confidence in the market and encourage our intermediary partners to access Hodge’s flexible, market-leading mortgage solutions.”
Graham added: “We pride ourselves on our personal service and ‘open door’ policy, and believe that these rate reductions demonstrate our commitment to maintaining the best customer service and products available.”
