Designed with complex incomes in mind, this product has been created to help you maximise your affordability if you’re one of the growing number of people who fall outside ‘tick box’ underwriting.
We get to the know the lifestyles and goals of our customers and understand there’s a need for lenders to provide products with broader criteria tailored to your diverse income requirements. Hodge Resi mortgage supports high net worth, employed and self-employed customers that need greater financial flexibility.
Who’s eligible for a Hodge Resi Mortgage?
The way we live and work is evolving, income isn’t a straight line for most these days which means the way we support our customers has to evolve and change too. More of you than ever have more diverse income streams thanks to the new ways people choose to work. Whether you’re a first-time buyer looking to get on the property ladder, a home mover hoping to move to your forever home or someone wanting to unlock the equity from your property to support the financial needs of your older children, Hodge may be the flexible lender you’ve been looking for.
Is Resi right for me?
Is your current income stream more complex than clear-cut? If so, then a Hodge Resi Mortgage could help you on your way to the home of your dreams. We believe lending should be more flexible, which is why we look at your whole financial picture. Not just where you are now but where you’re going. More flexibility means more financial choice and a step towards the freedom you’re working so hard for.
Benefits of a Hodge Resi Mortgage
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All validated regular income considered for employed and self-employed
Times have changed and so has the way you work
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Multiple income streams accepted
It’s more than just a side hustle
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Dedicated underwriters experienced in income complexities
All our mortgages are built with you in mind, our underwriters are the experts working hard to say yes.
Income criteria
As with all mortgage applications, we’ll ask for proof of income. Here’s what you can expect your financial adviser or mortgage broker to ask for:
- Earned income accepted up to the age 80
- 1 year's 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 and variable income streams including non-contractual up to 100%
- New professional partners and associates accepted
- Professional agency and zero hours including locum doctors and dentists, bank nurses and supply teachers
- Max 90% LTV capital and repayment with family gifted deposit or landlord gifted equity accepted
- Max 75% LTV interest only with multiple repayment vehicles including downsizing.
