Hodge cuts 50+ and RIO rates

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Hodge has reduced rates across a selection of its 50+ and Retirement Interest Only (RIO) Mortgages by up to 0.26%.

The specialist lender has cut the interest on a range of its two-year and five-year fixed rate products, available to new and existing customers.

Rates on Hodge’s 50+ and RIO product ranges are as follows:

Product Max LTV Product Fee Old rate New rate Change
50+ Mortgage 2 year fixed 75% £995 6.55% 6.35% -0.20%
50+ Mortgage 2 year fixed (fee free) 75% £0 6.70%    
50+ Mortgage 5 year fixed 75% £995 6.05% 5.95% -0.10%
50+ Mortgage 5 year fixed (fee free) 75% £0 6.20% 6.10% -0.10%
50+ Mortgage 2 year fixed 75% £1,495 6.35% 6.15% -0.20%
50+ Mortgage 2 year fixed 75% £1,995 6.25% 6.05% -0.20%
50+ Mortgage 5 year fixed 75% £1,495 5.85% 5.75% -0.10%
50+ Mortgage 5 year fixed 75% £1,995 5.75% 5.65% -0.10%
50+ Mortgage 2 year fixed 85% £995 6.85%    
50+ Mortgage 2 year fixed (fee free) 85% £0 7.00%    
50+ Mortgage 5 year fixed 85% £995 6.35%    
50+ Mortgage 5 year fixed (fee free) 85% £0 6.50%    
RIO Mortgage 2 year fixed 75% £995 6.75%    
RIO Mortgage 2 year fixed (fee free) 75% £0 6.90%    
RIO Mortgage 5 year fixed 75% £995 6.25% 5.99% -0.26%
RIO Mortgage 5 year fixed (fee free) 75% £0 6.40% 6.14% -0.26%
HBTL Mortgage 2 year fixed 75% £995 7.00%    
HBTL Mortgage 2 year fixed (fee free) 75% £0 7.25%    
Professional Mortgage 2 year fixed 80% £1,495 6.50%    
Professional Mortgage 5 year fixed 80% £1,495 6.40%    
Professional Mortgage 2 year fixed 90% £1,495 6.65%    
Professional Mortgage 5 year fixed 90% £1,495 6.55%    

Emma Graham (pictured), business development manager at Hodge, said: “We’ve implemented these changes to give our brokers and their customers greater choice as the market settles and rates continue to fall.

“We’re hoping these latest rate reductions will help our intermediary partners serve customers requiring specialist mortgage solutions, with competitive rates on our market-leading 50+ and RIO mortgages.”

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