Here is the latest update from the Hodge Bank. You can access their full product set, including equity release via our mortgage club as well as some packaged mortgage options too.
Latest Announcement from Hodge Bank
Important update from Hodge – Rate Change
As we continue to see the effect of rising inflation and the impact on Savings rates, banks, brokers and customers alike are having to navigate an increasingly tricky journey. This, combined with the record volumes of business written in the past 12 weeks and subsequent impact to our service levels has led to us making a few changes.
We have reviewed our mortgage rates to ensure we continue to lend and operate responsibly and will be increasing our interest rates across all our products (50+, RIO and Holiday Let) by an average of 0.60% with effect from 5pm on the 30th May.
Our flexible, personal approach to assessing cases sits at the very core of our business, and we take pride in our ability to review each case on its own merit, something we are committed to maintaining at Hodge. We know we absolutely need to support both our teams internally and valued external partners at this busy time.
Key information:
- Rates are rising from 5pm on 30th May 2022
- Rates will rise by an average of 0.60% across all products
- DIPs must be submitted by 5pm on 25th May
- To secure current rates full applications must be submitted by 5pm on the 30th May
- To view our full list of current products & rates please click here.
We appreciate the challenge you face at this time with a number of lenders withdrawing and increasing their interest rates. We hope by giving you two weeks’ notice you’ll have time to prepare your clients.
We are committed to ensuing our service levels are maintained at the levels you both expect, and deserve.
| Product code | Product description | LTV | Fee | Rate |
| 50607 | 50+ Mortgage 5 year fixed | 50% | £995 | 2.70% |
| 50608 | 50+ Mortgage 5 year fixed (fee free) | 50% | £0 | 3.05% |