Intermediary only lender Hodge has reduced the rates on its retirement interest only (RIO) and its 50+ mortgage products.
Its 50+ mortgage product, with loan-to-values (LTVs) of 50% or 60%, will see a drop of 0.30% across the board. While its RIO products with 50% LTV sees a rate drop of 0.20%.
Emma Graham, business development director at Hodge, said: “Hodge is constantly looking to help our intermediary partners in offering competitive and flexible products and this is our latest move to do just that.
“As a specialist lender in a highly competitive market-place we’re delighted to launch these lower rates across our later life propositions.
“These reductions in parallel with our common-sense approach to lending and our underwriter’s willingness to assess cases on their own merits means we can now support more of your customers with their lending needs.”