Hodge, a specialist lender, has just cut its interest rates across its 50+ and retirement interest-only (RIO) mortgage ranges.
Hodge has reduced its rates by up to 0.30%, meaning you could save money on your monthly mortgage payments. For example, a two-year fixed rate mortgage for people over 50 now starts at just 5.65% and a five-year fixed rate starts at 5.30%. That’s a great deal!
But it’s not just the 50+ range that has seen lower rates. Hodge has also cut rates across its entire mortgage range, including its new Hodge Resi product, designed for people with more complex income situations.
More Choice Than Ever
Here’s a breakdown of the new rates:
- 50+: Two-year fixed rates start at 5.65% and five-year fixed rates start at 5.30%
- RIO: Two-year fixed rates start at 6.20% and five-year fixed rates start at 5.52%
- Hodge Resi: Two-year fixed rates start at 6.15% and five-year fixed rates start at 5.75%
These changes mean there’s more choice than ever for people looking for a mortgage, regardless of their age or income situation.
Why Is Hodge Cutting Rates?
Hodge is committed to helping people find the right mortgage for their needs, and they’re always looking for ways to make their products more affordable. Emma Graham, business development director at Hodge, explained, “We’re pleased to be announcing further changes across our range of mortgage products. Hodge’s recent introduction of new products and reduced rates reflects our deepening commitment to developing customer-centric mortgage solutions and serving underserved areas of the market. The reduction in rates will make our offering accessible to more borrowers, helping brokers and customers.”
Get In Touch
If you’re thinking about taking out a mortgage or remortgaging, it’s always a good idea to speak to a mortgage advisor to find the best deal for you. They can help you understand the different options available and explain the finer details of the different mortgages available. Don’t miss out on these great new rates!