Hodge Bank has announced rate reductions across selected Resi Retire and RIO products alongside enhancements to its loan-to-income criteria.
The lender has updated its LTI calculations across the Resi, Resi Retirement and RIO ranges, allowing borrowers with incomes above £40,000 to access increased borrowing potential, with lending available up to six times income.
Hodge said the revised approach is designed to improve affordability, widen access to borrowing, and support customers lending up to and into retirement.
Emma Graham, business development director at Hodge Bank, said: “This update enables us to support more customers as they plan their finances. It also expands opportunities for older first-time and second-time buyers, as well as those releasing equity to meet a wide range of needs.”
Rates have been reduced by up to 0.22% across the Resi Retire range and by up to 0.15% across the RIO range.
Within the Resi Retirement range, 2-year fixed rates have fallen by up to 0.12%, while 5-year fixed rates have reduced by up to 0.22% at 60% and 75% LTV.
The lender has also reintroduced its 60% LTV £995 fee products, providing a lower-fee option for borrowers seeking greater flexibility.
Hodge said the combination of increased borrowing flexibility and more competitive pricing supports customers navigating changing financial needs, whether progressing homeownership plans or releasing equity to fund future goals.
For intermediaries, the updated criteria extend support to a wider pool of customers through Hodge’s personalised underwriting, which considers individual circumstances to help deliver suitable outcomes.
The developments follow several recent criteria enhancements, including lending up to 95% LTV and interest only up to 80% LTV.
