Effective from 9am tomorrow (Thursday 4th January), Hodge has reduced new business rates across its entire range by up to 0.80%, with retention products following suit.
The lender kicked off the New Year by reducing all 50+ rates by 0.70%, as well as reducing all Retirement Interest Only (RIO) 2-year fixed rates by 0.70%.
In addition, all RIO 5-year fixed rates will also be reduced by an average of 0.40%.
Hodge’s Professional Mortgage rates will see reductions of up to 0.60%, while its Holiday Let rates will decrease by 0.80%.
Emma Graham, business development director at Hodge, said: “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.
“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.”
