We’ve reduced rates on our RIO, 50+ and Retirement Mortgages

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Emma Graham 14 July, 2020

As of today (14 July) we’ve reduced some of our rates on our Later Life mortgages for both new and existing customers.

The rate changes include:

  • Reduction on all RIO (60% LTV) rates by 0.20%
  • 0.20% reduction on our 50+ 5-year fixed (60% LTV)   
  • 0.10% reduction on our Retirement Mortgage 2-year fixed rate
  • 0.30% reduction on our Retirement Mortgage 5-year fixed rate

You can view all of our rates including the recent changes here.

“Having spent considerable time in our homes since lockdown, many of us are re-evaluating our homes and living arrangements. For some older borrowers, this may well include wanting to make home improvements or helping their children fly the nest and buy their own home.

“The rate reductions introduced today, coupled with our ability to consider income up to the age of 80 as well as our Hodge Early Repayment Promise, can most definitely provide families with the capability to provide that much needed family financial support during these difficult times.

Emma Graham, business development director for Hodge

“The stamp duty holiday announced by the Chancellor in the summer statement is also a great incentive for all buyers. Our hope is that the incentive together with our rate reductions and flexible lending criteria, will enable older borrowers to either help a loved one move into their first home or make the move themselves into a more suitable last home, at a time when the importance of our living conditions have been highlighted more than ever before.”

If you would like to discuss our recent criteria or rate changes in more detail, our BDM’s are available to meet virtually with you.  You can contact them to make an appointment by clicking here.