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’re complex mortgage specialists and so we take time to get to the know the lifestyles and goals of our customers. We 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
- Agency and zero hours including locum doctors and dentists, bank nurses and supply teachers
- Max 95% LTV capital and repayment (over 90% LTV Purchase only) with family gifted deposit or landlord gifted equity accepted
- Max 80% LTV interest only with multiple repayment vehicles including downsizing.
Resi Mortgage FAQs
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.
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 .
Yes. We work closely with mortgage brokers and mortgage advisors who understand specialist lending and can help you find the right loan for your financial situation.
If you’re unsure whether this mortgage is right for you a broker can offer tailored mortgage advice.
Mortgage brokers and independent financial advisers understand complex mortgages and can talk you through the specifics of your finances, including mortgage rates, mortgage repayments and other types of circumstances that play a part in your mortgage application.
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.
Yes. As a specialist mortgage lender, we’re experienced in working with applicants 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 an associates.
Complex income mortgages are designed for borrowers whose earnings don’t fit traditional lending models, for example those with fluctuating income, self-employment, investment returns or multiple income sources.
These mortgage products take a more flexible approach to assessing affordability.
While many lenders may struggle to process complex mortgage applications, specialist lenders like Hodge, are equipped to review a broader financial picture.
Some borrowers may find that working with other mortgage brokers or experienced lenders can help navigate the process more smoothly and secure a suitable mortgage offer for their family home.
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.
You can choose a repayment mortgage or interest only for the Resi Retire. Repayment means your monthly repayments cover the interest and the amount you’ve borrowed. At the end of the term you won’t owe anything.
For Resi Retire interest only a repayment strategy is required for when your mortgage ends. As long as you’ve kept up with your payments, the final amount you owe us will always be the same as the amount you initially borrowed, regardless of whether your home goes up or down in value.
Yes, it’s essential to obtain financial advice before applying as it’s important to consider all options on the market. You should also consider any benefits and grants which may be available to you.
We review the Standard Variable Rate regularly. The standard variable rate may change to reflect changes in the Bank of England base rate or due to our funding or administration costs, economic effects and the impact of new laws or regulations. If it changes, we’ll always give you reasonable notice as to how this will affect your repayments, if at all.