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You asked, we listened – criteria enhancements across our entire mortgage range

13th January 2022

We always take your feedback on board and we're excited to announce some criteria enhancements following on from broker meetings towards the end of last year.
We've made these changes so you can help even more customers and grow your business, at Hodge, we're always working with you.

Our criteria enhancements:

  • We've reduced our minimum property value from £120,000 down to £100,000 across all our mortgages.
  • We'll now accept traditional Scottish tenement flats.
  • We'll now accept properties with private drainage (septic tanks) and we'll consider properties with shared drainage provided legal arrangements are in place for maintenance and access.

What makes us different?

For 50+ and RIO Mortgages, at Hodge we…

  • Consider earned income, both employed and self-employed, up to a maximum age of 80
  • Look at both pre and post retirement income, there’s no upper age limit if the mortgage is affordable on pension income
  • Can lend up to six times income on a like-for-like remortgage
  • Lend from age 50 with a maximum term of 41 years for 50+ with no end date for RIO
  • Only need one client to be aged 50, we can look at a second applicant under 50 in this instance

For Holiday Let Mortgages, at Hodge we...

  • Don’t require a minimum income
  • Allow 90 days personal occupancy
  • Accept first time landlords and Air B&B with up to 3 properties considered
  • Lend from aged 21 to age 95
  • Offer enhanced rental calculation for 5 year fixed
  • Consider non-owner occupiers 

Don’t forget, your customers have the option of an annual 10% overpayment facility across our entire range as well as the flexibility of our Early Repayment Promise, where they can sell-up and repay in full without early repayment charges, for added peace of mind. They also have a choice of interest only or repayment for 50+ and Holiday Let.

Whether you are looking for a mainstream mortgage for your over 50s clients, a RIO as a great alternative to equity release or a flexible and innovative holiday let mortgage, we can help.

We believe in offering great support, to contact your dedicated BDM experts at Hodge, visit our find a BDM page, simply add your postcode and you'll have access to not one but two people who'll support you. You can also register with us and start working with us on-line where you will be able to send and track your mortgage cases with us.

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