Hodge has reduced rates across its entire range of holiday let, 50+, RIO and professional mortgage products by up to 0.40 percentage points.

This is the third time the specialist lender has reduced its rates since re-entering the market after a pause in July, and since offering its full product range since November.

In addition, the lender has also reduced rates across its retention ranges to support its existing customers by up to 0.60%.

Emma Graham (pictured), business development director at Hodge, said: “What a great start to 2023, following what turned out to be a bit of a roller-coaster year for mortgages in 2022. We are absolutely thrilled to be starting the year on such a positive note and bringing even greater rate reductions across all of our mortgage products for the benefit of our partners and their clients.

“With reduced rates already bringing much-needed stability back to the mortgage and property market towards the end of last year, it’s incredibly heartening to be announcing yet further reductions across our entire portfolio of mortgage products as we head into the first quarter of 2023.

“With both repayment and interest only options on our 50+ and holiday let mortgages, and up to 90% LTV available on our professional products too, this is undoubtedly more welcome news at a time when many people need all the financial support available to them.”