Hodge has lifted the temporary restrictions it had on its mortgage products and will now accept applications for new purchases of up to 60% loan-to-value (LTV).
The specialist lender has also lifted the restriction of accepting ‘like for like’ remortgages only.
Capital raising will be considered across its entire later-life product range up to 60% LTV. Both purchase and remortgage transactions will be based on an automated valuation.
Emma Graham, business development director at Hodge said: “These are difficult times for everyone and we’re pleased to be able to lift some of the temporary restrictions across our later-life products.
“This will allow us to help more customers secure finance at this challenging time.
“We remain committed to doing all we can to support brokers and to help customers as we navigate these unchartered waters.
“Over the coming weeks and months, we will continue to review our position in the market with a view to make additional enhancements to our products and criteria in the near future.”
These changes are taking place with immediate effect.