Tailored around diverse incomes, this product helps clients looking to maximise affordability, who fall outside ‘tick box’ underwriting.
Supporting high net worth, those with more complex mortgage needs, self-employed and unique borrowers that need greater financial flexibility, we get to know the lifestyles and goals of our customers.
Why choose us?
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All validated regular income considered for employed and self-employed
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Multiple income streams accepted
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• Affordability is assessed on your customer’s ability make the interest payment on an interest only basis, not on a full repayment basis
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Dedicated underwriters experienced in income complexities
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All applications manually assessed on a case-by-case basis
Product summary
| Product option | 2 Year Fixed Rate | 5 Year Fixed Rate |
|---|---|---|
| Loan to Value (LTV) | 95% maximum LTV for repayment (over 90% purchase only) 80% maximum LTV for interest only | 95% maximum LTV for repayment (over 90% purchase only) 80% maximum LTV for interest only |
| Valuation Fees | Free up to £1 million property value | Free up to £1 million property value |
| Minimum Loan | £50,000 | £50,000 |
| Maximum Loan | £600k up to 95% LTV £1m up to 90% LTV £2m up to 85% LTV £3m up to 75% LTV | £600k up to 95% LTV £1m up to 90% LTV £2m up to 85% LTV £3m up to 75% LTV |
| Minimum Property Value | £100,000 If 80 LTV for Interest Only £500,000 | £100,000 If 80 LTV for Interest Only £500,000 |
| Maximum Property Value | £10 million | £10 million |
| Early Repayment Charges (ERCs) | Fixed Year 1 = 3% Year 2 = 3% | Fixed Year 1 = 5% Year 2 = 4% Year 3 = 3% Year 4 = 2% Year 5 = 1% |
Criteria
- Earned income accepted up to the age 80
- 1 years trading accounts or the latest year where customers have been trading for more than 2 years regardless of LTV
- Retained Profit (Ltd Co) accepted
- Experienced fixed term and day rate contractors from day one with no minimum income requirements including gaps of up to 3 months
- Multiple current and future income sources up to 100% including new LLP and Associates
- Enhanced affordability including Loan To Income up to 6x joint on pound for pound remortgages, and 6x on purchase and capital raising mortgages, depending on LTV and income
- Agency and zero hours including locum doctors and dentists, bank nurses and supply teachers
- Max 95% LTV capital and repayment with family gifted deposit or landlord gifted equity accepted
- Max 80% LTV interest only with multiple repayment vehicles including downsizing
Credit, service & proposition
- Maximum Advance
- £600k up to 95% LTV,
- £1m up to 90% LTV
- £2m up to 85% LTV
- £3m up to 75% LTV
- Free valuation up to £1m purchase price
- Consent to let accepted
- Free valuation and legal assist for re-mortgage
FAQs
Find out more about our Resi mortgage.
Hodge is a responsible mortgage lender, so if your clients circumstances change, then we’ll work with them to find out the best way forward.
Our mortgages are portable, which means they can be transferred with a house move if you wish to move or downsize.
Yes, we offer interest only mortgage options up to 80% LTV, including retirement interest only options. These can be suitable for many borrowers, including those with clear repayment strategies or complex financial circumstances.
Yes. We offer residential mortgages for borrowers up to retirement age and beyond, accepting earned income up to age 80.
This provides more flexibility for customers who want to keep working later in life or access mortgage finances in retirement with our Resi Retire Mortgage.
We assess a wide range of income sources, including salary investment income, retained profits, dividends, bonuses, and multiple or variable income streams.
This makes our mortgage suitable for those with complex income and more irregular finances which can be more tailored to your needs than many mainstream lenders.
Absolutely. Our Resi Mortgage is specifically built for the self-employed contractors, freelancers and company directors. We’ll consider applicants with one years trading history and those with fluctuating or non traditional income, such as rental income.
Unlike High Street lenders, we use flexible underwriting to assess real life affordability.
Our mortgage products are tailored to complex income borrowers, offering options up to 95% LTV and interest only terms up to 80% LTV. We also accept earned income up to age 80, helping customers plan ahead even into retirement.
If you have a client who has a complex income or whose earnings don’t fit traditional lending models, professional with fluctuating income, self-employment, investment returns or multiple income sources, a Resi Mortgage could be a great fit for them.
The Resi Mortgage take a more flexible approach to assessing affordability. While some lenders may struggle to process complex mortgage applications, specialist lenders like Hodge, are equipped to review a broader financial picture.
We’re experienced in working with clients who have multiple income sources. This includes things like variable, investment, self-employed and non-contractual income. We can also assess one year’s trading accounts except retained profits and consider professional partners and associates.
Our Resi Mortgage is a residential mortgage product designed for borrowers with complex income streams. It’s ideal for professionals, entrepreneurs and individuals who don’t fit the standard lending criteria of High Street banks.
