The Hodge Professional Mortgage proves more popular with women.
A year after we launched our Professional Mortgage, we’ve delved into Hodge data and discovered a clear gender split – almost 6 in 10 of our Professional Mortgage customers have been women.
The statistics revealed that 58% of our customers in the past year were women, compared to 42% of men applying for the product. The data also showed more than a quarter of applicants (26%) were from the greater London area, with 21% hailing from the south West of England.
Emma Graham, business development director, Hodge, said: “A year since the launch of Hodge’s Professional Mortgage, we’re really pleased to see how well it’s been received by our brokers and their clients. In particular, the six times loan-to-income feature has been very popular, allowing those who are just starting out in their career to get a foot on the property ladder.”
The Hodge Professional Mortgage is available to a range of professionals such as barristers, architects, doctors, dentists and more. Designed to provide a solution for those with complex incomes and accepting multiple income streams and 100% of validated incomes. We also offer up to six times loan-to-income multiple, as well as income from a ‘non-professional’ joint applicant, up to 90% LTV and multiple income streams including retained profits and one-year accounts for the self-employed.
Emma continued: “It’s been interesting to see the gender split and understanding who this product works for. When we designed our professional mortgage, we knew it had to stand out from the crowd. We believe that with its market leading LTI, as well as our dedicated support team available throughout the application process, we have created just that. We know that with a little imagination, life really is your creation.”
Courtney Flockhart, mortgage advisor at Henry Dannell and a professional mortgage specialist, said of working with us: “I work with a lot of barristers and the six times loan to income multiple is really attractive to a lot of them, as is the faultless service. That’s what really stands out for us as brokers working with Hodge, the access, understanding and relationship we have with its underwriting team.
“Many of our clients have complex incomes, but Hodge takes the time to understand those incomes. The underwriting team understands that two years of a client’s accounts won’t be reflective of what they are earning now, or their potential earnings. A client’s accounts from last year are around 18 months out of date, and they get that and so assess that income in a different way.
“With consumer duty, we have to demonstrate positive outcomes and that I’ve done all I can for my clients and I feel confident I am totally doing this with Hodge and the relationship I have with its underwriting team.”
Whether you’re a Barbie, Ken or even an Alan, if you want more information about the Hodge Professional Mortgage and to talk to one of Hodge’s business development team, please visit: Professional Mortgages – Hodge for Intermediaries.